Just call us Bond. Amortized bond.
Over 700 finance terms, Shmooped to perfection.
An annuity where the investment can be placed into equity mutual funds, fixed income mutual funds and/or money market mutual funds. Variable" refers to the likelihood that the investment returns will vary over time. They could do really, really well, or really, really not. The amount that's in the account when the annuity feature is activated determines the amount of the annuity payments."