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At its core, a variable annuity is designed to provide a steady stream of income during retirement. But these financial products are more complex, costlier and riskier than other types of annuities .
A deferred annuity that permits allocations to stock or bond funds and for which the account value is not guaranteed to stay above the initial amount invested is called a variable annuity (VA). A new category of deferred annuity, called the fixed indexed annuity (FIA) emerged in 1995 (originally called an Equity-Indexed Annuity). [ 5 ]
Variable annuities differ in that the value of the annuity is based on the performance of underlying investments — often mutual funds. The value of your annuity can rise or fall based on how the ...
Whereas variable annuities can invest in equity funds, bond funds, money market funds, and other investment options. When it comes to taxation, both annuities tax withdrawals as ordinary income.
The tax treatment varies depending on whether you bought the annuity with pre-tax (qualified) or post-tax (non-qualified) funds. For qualified annuities, withdrawals are fully taxed as income.
The Variable Annuity Life Insurance Company, or VALIC, a subsidiary of Corebridge Financial, Inc., (CRBG), is an insurance corporation that specializes in tax-qualified retirement plans, supplemental tax-deferred and after-tax investments. VALIC's headquarters are in Houston, Texas.
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