variable annuity

Definition

A life insurance annuity contract which provides future payments to the holder (the annuitant), usually at retirement, the size of which depends on the performance of the portfolio's securities.

Use variable annuity in a sentence

The variable annuity was part of the man's retirement plan as it ensured some form of cash receipt during old age.

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We had variable annuity, which meant that when we retired we would still be able to get paid and have some money.

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You need to try and make sure that you understand all of the factors involved in any variable annuity that you pursue.

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