Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.

What are the contents of fixed annuities?
For a variable annuity, you need to know the underlying investments and how your returns are credited to your account. For a fixed annuity, the issuer is responsible for the commitment to provide the promised rate to you. In a sense, how they invest isn't really your concern. You should be concerned about the overall health of the company, but in general, insurance companies tend to know their business when they stick to their strengths: writing insurance on groups and producing annuity contracts.  I don't care for VAs or the fixed annuities you asked about, but I don't believe they resemble a ponzi scheme, either.