What Are Variable Annuities Insurance?

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    David RacichPRO
    Fountain Hills, Arizona
    A variable annuity is a security product and an insurance product under the oversight of FINRA and the department of insurance. Most variable accounts use two account classifications: separate subaccounts and guaranteed interest account. The separate subaccounts have equity and bond investments and the guaranteed account is tied to an interest rate for a given period of time. Non-qualified variable annuities accumulate tax deferred with distributions of gain taxed as ordinary income.
     
    Answered on June 28, 2013
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