Variable annuity

{
  "id": "MLC-T-INS-003466",
  "term": "Variable annuity",
  "field": "Insurance and risk management",
  "definition": "A contract between an individual and an insurance company that provides for future payments, where the value of the annuity varies based on the performance of underlying investment options chosen by the contract holder. It offers tax-deferred growth and typically includes a death benefit guarantee. Variable annuities are subject to market risk and investment fees.",
  "url": "https://mlchart.com/terminology/insurance/variable-annuity/"
}