What does Group Annuities - Immediate Variable mean? Read on to discover the definition & meaning of the term Group Annuities - Immediate Variable - to help you better understand the language used in insurance policies.
Group Annuities - Immediate Variable
An annuity contract that provides for the first payment of the annuity at the end of the fixed interval of payment after purchase. The interval may vary, however the annuity payouts must begin within 13 months. The amount varies with the value of equities (separate account) purchased as investments by the insurance companies.
We hope the you have a better understanding of the meaning of Group Annuities - Immediate Variable.