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Variable Annuity
A form of annuity policy in which the amount of annuity payments vary according to the value of the money invested, usually in the stock market. The variable annuity was intended to protect the purchasing power of money spent for an annuity against inflation.

Variable Universal Life
Benefits are variable based on the value of equity investments, and premiums and benefits are adjustable at the option of the policyholder.

This information should not be construed as legal advice or a legal opinion on any factual situation. This summary is for illustrative purposes and is not a contract. It is intended to provide a general overview, at the time first posted, of the topics described. Only the insurance policy can give actual terms, conditions and exclusions.