No. of Recommendations: 0
As was mentioned, when, if ever, will we see 3% APY for a 5 year CD?

Last I checked, PenFed offered such.

Anything w/ equities exposure makes me VERY nervous.

Then an annuity, at least a deferred variable annuity, is not for you. A fixed annuity is not likely to pay much above the 3% 5 yr CD so you might want to consider other options. Annuities are certainly not covered under FDIC.
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