RILA
Indexperts Gorilla Aggressive Growth ETF
stock NYSE ETF

Use a RILA.

Sounds like a badly explained RILA. No one is getting 7% point to point risk free. Now a salesman saying “to not get your 7% the Russell 2000 or S&P 500 whichever is lower will need to be with 15% of the level it was when the annuity was purchased or you will default to our guaranteed inflation protection rate of 2% which has only happened during 2008, 1980, or the Great Depression so you have a pretty much guaranteed 7% rate of return. Not including g the .75% a company charges to run this annuity. And when you die you can have your money back.” Just buy a buffered ETF from Innovator if you want RILA protection on a quarterly basis with no contract tie up

A RILA is fine for safe money
That said, not at your age. If you had to dip in, you sre going to get hit with a 10% IRS penalty on the gains, so not a good vehicle for part of your emergency fund

If you are going to park $50k in an annuity at that age, might as well go the RILA route. Looks for something that has no a fee segment on the S&P, maybe a 10% or 20% buffer, and a 6 year CSDC.
Feel like that would be a better use of your time to look at.

I am a licensed financial advisor (but not YOUR advisor) and a part of my business is annuities. A 5-7% cap is very low right now, plenty of companies are doing 10% caps. Seek a broker who can compare a national list of annuity carriers to get you the best rate. Some have optional fees, some do not. Compare many of them before deciding on one.
At 39, you should know that putting money in an FIA will mean you essentially cannot touch that money until age 59.5 without an IRS penalty. You can change from annuity to annuity after surrender period before 59.5, but withdrawing from annuity into cash before 59.5 will result in a 10% IRS penalty.
If you still like safety but want better upside, a RILA may be a better fit. There are a few RILAs out there offering 1.3 x the SPX with no cap on a 6 year strategy, with 10% or 20% loss protection on the downside after 6 years if SPX is negative. Some RILAs have fees, some don’t. Again, compare several of them before deciding.
If you like FIAs and RILAs but don’t want the IRS 59.5 lock-up, you can buy “Market Linked Notes” that offer varying levels of downside protection paired with upside growth against an index. Tons of options there as well. Taxation can be more complicated on these depending which one you chose.
This is general educational information not specific to your situation, always consult your own professional.

Use a RILA.

Sounds like a badly explained RILA. No one is getting 7% point to point risk free. Now a salesman saying “to not get your 7% the Russell 2000 or S&P 500 whichever is lower will need to be with 15% of the level it was when the annuity was purchased or you will default to our guaranteed inflation protection rate of 2% which has only happened during 2008, 1980, or the Great Depression so you have a pretty much guaranteed 7% rate of return. Not including g the .75% a company charges to run this annuity. And when you die you can have your money back.” Just buy a buffered ETF from Innovator if you want RILA protection on a quarterly basis with no contract tie up

A RILA is fine for safe money
That said, not at your age. If you had to dip in, you sre going to get hit with a 10% IRS penalty on the gains, so not a good vehicle for part of your emergency fund

If you are going to park $50k in an annuity at that age, might as well go the RILA route. Looks for something that has no a fee segment on the S&P, maybe a 10% or 20% buffer, and a 6 year CSDC.
Feel like that would be a better use of your time to look at.

I am a licensed financial advisor (but not YOUR advisor) and a part of my business is annuities. A 5-7% cap is very low right now, plenty of companies are doing 10% caps. Seek a broker who can compare a national list of annuity carriers to get you the best rate. Some have optional fees, some do not. Compare many of them before deciding on one.
At 39, you should know that putting money in an FIA will mean you essentially cannot touch that money until age 59.5 without an IRS penalty. You can change from annuity to annuity after surrender period before 59.5, but withdrawing from annuity into cash before 59.5 will result in a 10% IRS penalty.
If you still like safety but want better upside, a RILA may be a better fit. There are a few RILAs out there offering 1.3 x the SPX with no cap on a 6 year strategy, with 10% or 20% loss protection on the downside after 6 years if SPX is negative. Some RILAs have fees, some don’t. Again, compare several of them before deciding.
If you like FIAs and RILAs but don’t want the IRS 59.5 lock-up, you can buy “Market Linked Notes” that offer varying levels of downside protection paired with upside growth against an index. Tons of options there as well. Taxation can be more complicated on these depending which one you chose.
This is general educational information not specific to your situation, always consult your own professional.