So, I’m assuming that this “advisor” is not collecting commissions on your actions. I assume that because a single-premium, fixed rate annuity does not not provide commissions to the advisor.
To learn more and check the rates on these products (called MYGAs or multi-year guaranteed annuities) for various terms go to the website of StantheAnnuity Man! He explains and gives you a search engine for the best rates from the top-rated insurers. Just remember, you are locked in for the term of the annuity. And you pay taxes on the interest at the end when you cash them in instead of rolling them over to another term annuity.