UNSPSC 64122006: Fixed annuity policy

A type of life insurance contract in which the individual makes a lump-sum purchase payment or series of payments. In return, the insurer makes fixed dollar payments to the annuitant for the term of the contract, usually until the annuitant dies. The insurance company guarantees both earnings and principal.

UNSPSC 64122006, Fixed annuity policy, is a Commodity code that does not align meaningfully with the state and local government procurement opportunities presented in the source material. The recent solicitations tagged under this code actually cover employee health insurance, pharmacy benefits management, third-party administration of benefits programs, insurance brokerage services, and risk management consulting—none of which involve the purchase or administration of fixed annuity insurance products as the code nominally describes.

The source shows no recent state and local opportunities for fixed annuity policies themselves. The mismatch between the code and the actual work being solicited suggests either a systematic tagging error in the procurement database or that UNSPSC 64122006 is being used as a catch-all for insurance-related benefits administration and brokerage work that falls outside its intended scope. State and local governments issuing these opportunities—including cities (Edinburg, Tucson, Lubbock, Sarasota, Orlando, Richardson), counties (Gwinnett, Okaloosa, Hall, Orange, Collier, Volusia, Pinellas, Rockland), independent school districts (Garland, Manor, Northside, Schertz-Cibolo-Universal City), universities and university systems (Texas Health Science Center, University of North Georgia, University of Texas System), state agencies (South Dakota Division of Insurance, Mississippi State Department of Health, Texas Education Agency), and special-purpose districts (Central Health, CIS)—are actively soliciting for employee benefits administration, insurance carrier placements, TPA services, and brokerage support, but these activities do not constitute fixed annuity policy procurement. Business development professionals evaluating opportunities under UNSPSC 64122006 should flag this code for reclassification or clarification with their procurement contacts, as the sourced opportunities do not represent genuine annuity-related work.