What is the Definition of Variable Annuity?

What is the Definition of Variable Annuity?

An annuity whose contract value or income payments vary according to the performance of the stocks, bonds and other investments selected by the contract owner.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Variable Annuity?

You can find random definition and meaning of insurance terms below:


What is the meaning of Hull Insurance

coverage for damage to a vessel or aircraft and affixed items.


What is the meaning of Incontestability Provision

a life insurance and annuity provision limiting the time within which the insurer has the legal right to void the contract on grounds of material misrepresentation in the policy application.


What is the meaning of Incurred But Not Reported (IBNR)

(Pure IBNR) claims that have occurred but the insurer has not been notified of them at the reporting date. Estimates are established to book these claims. May include losses that have been reported to the reporting entity but have not yet been entered into the claims system or bulk provisions. Bulk provisions are reserves included with other IBNR reserves to reflect deficiencies in known case reserves. IBNR can sometimes include estimates of incurred but Not Enough Reported (IBNER)


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