What is the definition of Variable annuity? | Dictionary.net

VARIABLE ANNUITY

\vˈe͡əɹɪəbə͡l ɐnjˈuːɪti], \vˈe‍əɹɪəbə‍l ɐnjˈuːɪti], \v_ˈeə_ɹ_ɪ__ə_b_əl ɐ_n_j_ˈuː_ɪ_t_i]\

Definitions of VARIABLE ANNUITY

1910 - Black's Law Dictionary (2nd edition)

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An annuity where premiums are used to purchase accumulation units. The value of the units are variable reflecting the value of the portfolio. When they reach payout they are turned into a fixed number and paid.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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