What is a common characteristic of fixed annuities regarding their terms?

Fixed annuities are characterized by a guarantee of a fixed rate of return over a specified term, which is typically in the range of 3 to 10 years. This term length allows policyholders to secure their investment and enjoy predictable income during the annuity's duration. Many individuals look for stability and relatively more conservative growth, which fixed annuities provide, making this characteristic particularly salient for those seeking to plan for retirement or for specific financial goals.

The other options do not align with typical characteristics or trends associated with fixed annuities. For instance, fixed annuities can be purchased by a wide range of age groups, not limited to those under 50, and are indeed popular among retired individuals who seek steady income streams. While it is true that many fixed annuities can be purchased with a single deposit, they often also allow for multiple contributions, making the assertion about only a single deposit misleading. Thus, focusing on the term length and structure of fixed annuities accurately highlights their core attributes.