Is Variable Annuity A Security?
11783 POINTSContact Meview profileLarry GilmorePROAgent Owner, Gilmore Insurance Services, Marysville, Washington StateIs a variable annuity a security? Yes, a variable annuity is subject to the same rules and oversight of the SEC that a security would be. A person selling variable annuities must be securities registered and comply with all the transaction rules established by FINRA and the SEC. One other thing to think about if you're considering a variable annuity is that the RISK in type of product is more along the lines of a stock purchase than a nonqualified product like a fixed annuity.Answered on May 19, 2013+01+1 this answer
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0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaA variable annuity is a security governed by the SEC and sold through FINRA registered representatives hold at least a series 6 and 63 license. It also has an insurance component to it as well. And to the extent that it is an insurance product is subject to the department of insurance jurisdiction.Answered on May 21, 2013+01+1 this answer 0flag this answerview more answers by David Racich
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaFINRA governs the sale of variable annuities. This association implements the directives of the Security and Exchange commission. Your state insurance commissioner supervises the activity of the agent selling that annuity because it is an insurance product. The idea behind a variable annuity is to participate in the rise and fall of a group of securities that matches your tolerance for risk.Answered on August 26, 2014flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat is an excellent question! Unlike fixed annuities or indexed annuities, yes, variable annuities are considered a security. The agent needs to have a securities license to sell you one, and you will have all kinds of authorities looking over the process to ensure that it is right for you. These can be very risky investments, so please be sure that you understand what you are buying. Thanks for asking!Answered on August 27, 2014flag this answer
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