Chapter 10 preview
Chapter 10: Variable Products
Chapter 10 covers variable annuities and variable life insurance. Variable annuities are securities — registered with the SEC, sold with a prospectus. During the accumulation phase, investors own accumulation units; at annuitization, those convert to annuity units. The investor bears investment risk in the separate account. Variable life insurance ties both the death benefit and cash value to separate account performance. A 1035 exchange allows tax-free transfer between annuity contracts.
Chapter summary
Chapter 10 covers variable annuities and variable life insurance. Variable annuities are securities — registered with the SEC, sold with a prospectus. During the accumulation phase, investors own accumulation units; at annuitization, those convert to annuity units. The investor bears investment risk in the separate account. Variable life insurance ties both the death benefit and cash value to separate account performance. A 1035 exchange allows tax-free transfer between annuity contracts.
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Key concepts
- Annuities
- Fixed versus Variable Annuities
- How Deferred Annuities Work
- Taxation of Variable Annuities
- Variable Product Regulation
- Variable Life Insurance
- Equity-Indexed Annuities (EIA)
- Annuities
- Fixed versus Variable Annuities
- How Deferred Annuities Work
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