What's What in the Financial Services Industry

Variable Annuity

Definition: an insurance contract which provides future payments to the holder (the annuitant), usually at retirement, the size of which depends on the performance of the portfolio's securities.

Regulated by: variable annuities are considered a security product on the federal level, therefore broker-dealer agents must be registered with the Financial Industry Regulatory Authority (FINRA) to sell variable annuities. On the state level, variable annuities are considered an insurance product, therefore they must be registered with the Indiana Department of Insurance.

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