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Variable AnnuitiesA variable annuity is a contract between you and an insurance company, under which you make a lump-sum payment or series of payments. In return, the insurer agrees to make periodic payments to you beginning immediately or at some future date. You can choose to invest your purchase payments in a range of investment options, which are typically mutual funds. The value of your account in a variable annuity will vary, depending on the performance of the investment options you have chosen. Variable annuities also offer many of the features of other types of annuities. These include:
For more information about variable annuities, including the types of fees and expenses they charge, read our publication, Variable Annuities: What You Should Know. http://www.sec.gov/answers/varann.htm
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