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Fixed annuities, on the other hand, provide a guaranteed return. Variable annuities offer the possibility of higher returns and greater income than fixed annuities, but there's also a risk that the account will fall in value.
A fixed annuity guarantees payment of a set amount for the term of the agreement. It can't go down (or up). A variable annuity fluctuates with the returns on the mutual funds it is invested in.
FINRA Rule 2330 (Members' Responsibilities Regarding Deferred Variable Annuities) establishes sales practice standards regarding recommended purchases and exchanges of deferred variable annuities, including requiring a reasonable belief that the customer has been informed of the various features of annuities (such as ...
Fixed annuity: payments are invested in the general account. variable annuity: payments are invested in the separate account.
A variable annuity is different from a fixed annuity in that it does not guarantee an interest yield from investments. The variable annuity's value is based on the performance of underlying investment portfolios.
Variable annuities are regulated by state insurance commissions, as well as by the SEC.
A fixed annuity's value will not decline due to market losses?it's consistent and stable. On the other hand, variable annuity values will fluctuate with the performance of the subaccounts you elect as the markets rise and fall.
Variable Annuity Considerations Unlike fixed annuities, however, you control where the value in your contract will be invested. Within the limits of the investment divisions, you can be as aggressive or as conservative as you'd like. This gives a variable annuity the potential for higher returns than a fixed annuity.