Fixed annuities are CD-like investments issued by insurance companies. If you're going to investment in fixed annuities, you should make sure your money is fully insured. There's no FDIC or federal insurance for annuities, but there is state insurance coverage. It's not as good as FDIC insurance, but it still makes sense to stay under the state coverage limits. This My Money Blog post
has a good overview about how to structure your annuities to maximize your coverage.