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Variable annuity

• An annuity under which monthly payments vary depending upon the value of the underlying investments, usually common stocks.

• An insurance contract in which the insurance company guarantees a minimum total payment to the annuitant at the end of the accumulation stage. The performance of a separate account, generally invested in equity securities, determines the amount of this total payment. See also: Fixed Annuity.

 
 

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 Embedded terms in definition
 Accumulation
Annuitant
Annuity
Common stock
Contract
Equity
Fixed annuity
Investments
Securities
Separate account
Underlying
 
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