Vanguard is launching the Single 5 fixed annuity, a spokesperson with firm told the MutualFundWire.com. The offeirng will be underwritten by Jefferson Pilot LifeAmerica Insurance Company.

"The annuity is designed for those investors looking for a conservative option," the official reported. "This compliments the other annuities currently available." There are 13 annuity portfolios from Vanguard.

The new product is currently available. The Single 5 series is targeted specifically at those investors who are looking to supplement other retirement savings vehicles, such as a 401(k).  

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