variable annuity

noun
an annuity in which the premiums are invested chiefly in common stocks or other securities, the annuitant receiving payments based on the yield of the investments instead of in fixed amounts.
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The money is in a variable annuity through her broker.
Filing requirements for individual annuity and variable annuity contracts.
Typically, a variable annuity will allow you to make a certain number of free transactions each year.
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