If an annuity holder dies, the estate is guaranteed the original investment less any withdrawals, though some plans offer more generous terms.

When an insolvency occurs, the Guaranty Association steps in to protect annuity holders, and decides what to do on a case-by-case basis.

In the guarantee programs' favor, many of the two companies' annuity holders are years away from retirement, and the guarantee programs have no immediate obligation to them.

At retirement, some annuity holders choose a fixed monthly distribution.

When an annuity holder dies, the balance in the account is subject not only to income tax, but also to estate tax.

Unfortunately, very few variable annuity holders - probably fewer than 20 percent - choose to do this.

Fidelity Bankers has 213,000 life insurance customers and 97,000 annuity holders in 49 states.

Then the annuity holder receives monthly payments for life.

It has 190,000 life insurance policyholders and 62,000 annuity holders in 49 states.

Fidelity Bankers has $4.1 billion in assets, 213,000 life insurance policyholders and 97,000 annuity holders nationwide.