variable annuity: Meaning and Definition of

var'iable annu'ity

Pronunciation: [key]
  1. an annuity in which the premiums are invested chiefly in common stocks or other securities, the annuitant receiving payments based on the yield of the investments instead of in fixed amounts.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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