Home > Glossary > Variable Annuity

Variable Annuity

In contrast to a fixed annuity, the key features of a variable annuity can fluctuate (they are “variable”) during the accumulation period and during the payout phase. Also in contrast to a fixed annuity, the variable annuity contract holder assumes much of the investment risk. With a variable annuity, the insurance company provides the contract holder with the ability to determine how his or her premiums are invested. One investment option is a variable account which typically consists of equity, bond or money market mutual funds. The other option is the general account of a variable annuity which provides a guaranteed return. The contract holder decides how much risk or variability they want to tolerate by allocating premium payments among the general and variable accounts. The amount of money accumulated and the amount of income during the payout phase are determined by the returns of these accounts. With a variable annuity: 1) the money can go in as a single premium payment or a series of payments; 2) the money is invested at a variable or non guaranteed rate; 3) payments are variable and can begin immediately or at some future date.

Sun America Polaris Choice IV

Glossary: 
Annuity
Variable Annuity
Annuity Product Types: 
Variable Annuity
Company Offering: 
SunAmerica
Surrender Fees: 
8%
7%
6%
5%
0%
Variable Annuity Fields
Minimum Premium Payment: 
25000
Maximum Premium Payment: 
1500000
Minimum Additional Premium Payment: 
500
Maximum Age at Start of Contract: 
86 years
Minimum Total Fees and Expenses: 
2%
Maximum Total Fees and Expenses: 
3%
Minimum Mortality and Expense Risk Charge “M&E Fee”: 
2%
Maximum Mortality and Expense Risk Charge “M&E Fee”: 
2%
Administrative and Contract Maintenance Expense: 
0%
Administrative Fee: 
$50
Minimum Investment Management Fee: 
1%
Maximum Investment Management Fee: 
2%
Ability to Select Asset Allocation: 
Yes
Total Number of Investment Options: 
50
Maximum Number of Concurrent Investment Options: 
50
Free Withdrawals: 
Yes
Free Withdrawal Limit: 
10
Waiver of Withdrawal Charges: 
Available
Guaranteed Death Benefit: 
Available
Are Telephone Transactions Allowed: 
Yes
Commissions (Maximum): 
6%
Key Phrases:
Glossary: 
Annuity
Variable Annuity
Annuity Product Types: 
Variable Annuity

Sun America Polaris Advantage II

Glossary: 
Annuity
Variable Annuity
Annuity Product Types: 
Variable Annuity
Company Offering: 
SunAmerica
Surrender Fees: 
9%
9%
8%
8%
7%
7%
6%
5%
4%
3%
0%
Variable Annuity Fields
Minimum Premium Payment: 
25000
Maximum Premium Payment: 
1500000
Minimum Additional Premium Payment: 
500
Maximum Age at Start of Contract: 
81 years
Minimum Total Fees and Expenses: 
3%
Maximum Total Fees and Expenses: 
4%
Minimum Mortality and Expense Risk Charge “M&E Fee”: 
2%
Maximum Mortality and Expense Risk Charge “M&E Fee”: 
2%
Administrative and Contract Maintenance Expense: 
0%
Administrative Fee: 
$50
Minimum Investment Management Fee: 
1%
Maximum Investment Management Fee: 
2%
Ability to Select Asset Allocation: 
Yes
Total Number of Investment Options: 
50
Maximum Number of Concurrent Investment Options: 
50
Free Withdrawals: 
Yes
Free Withdrawal Limit: 
10
Waiver of Withdrawal Charges: 
Available
Guaranteed Death Benefit: 
Available
Are Telephone Transactions Allowed: 
Yes
Commissions (Maximum): 
8%
Key Phrases:
Glossary: 
Annuity
Variable Annuity
Annuity Product Types: 
Variable Annuity

RAVA 4 Select NY

Glossary: 
Annuity
Variable Annuity
Annuity Product Types: 
Variable Annuity
Company Offering: 
River Source
Surrender Fees: 
7%
7%
7%
0%
Variable Annuity Fields
Minimum Premium Payment: 
10000
Maximum Premium Payment: 
999999
Minimum Additional Premium Payment: 
50
Maximum Age at Start of Contract: 
90 years
Minimum Total Fees and Expenses: 
2%
Maximum Total Fees and Expenses: 
3%
Minimum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Maximum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Administrative and Contract Maintenance Expense: 
0%
Administrative Fee: 
$50
Minimum Investment Management Fee: 
0%
Maximum Investment Management Fee: 
2%
Total Number of Investment Options: 
76
Maximum Number of Concurrent Investment Options: 
76
Free Withdrawals: 
Yes
Free Withdrawal Limit: 
10
Waiver of Withdrawal Charges: 
Available
Guaranteed Death Benefit: 
Available
Are Telephone Transactions Allowed: 
Yes
Commissions (Maximum): 
6%
Key Phrases:
Glossary: 
Annuity
Variable Annuity
Annuity Product Types: 
Variable Annuity

RAVA 4 Advantage NY

Glossary: 
Annuity
Variable Annuity
Annuity Product Types: 
Variable Annuity
Company Offering: 
River Source
Surrender Fees: 
7%
7%
7%
6%
5%
4%
2%
0%
Variable Annuity Fields
Minimum Premium Payment: 
2000
Maximum Premium Payment: 
999999
Minimum Additional Premium Payment: 
50
Maximum Age at Start of Contract: 
90 years
Minimum Total Fees and Expenses: 
2%
Maximum Total Fees and Expenses: 
3%
Minimum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Maximum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Administrative and Contract Maintenance Expense: 
0%
Administrative Fee: 
$50
Minimum Investment Management Fee: 
0%
Maximum Investment Management Fee: 
2%
Total Number of Investment Options: 
76
Maximum Number of Concurrent Investment Options: 
76
Free Withdrawals: 
Yes
Free Withdrawal Limit: 
10
Waiver of Withdrawal Charges: 
Available
Guaranteed Death Benefit: 
Available
Are Telephone Transactions Allowed: 
Yes
Commissions (Maximum): 
6%
Key Phrases:
Glossary: 
Annuity
Variable Annuity
Annuity Product Types: 
Variable Annuity

RAVA 4 Access NY

Annuity Product Types: 
Variable Annuity
Glossary: 
Annuity
Variable Annuity
Company Offering: 
River Source
Variable Annuity Fields
Minimum Premium Payment: 
10000
Maximum Premium Payment: 
999999
Minimum Additional Premium Payment: 
50
Maximum Age at Start of Contract: 
90 years
Minimum Total Fees and Expenses: 
2%
Maximum Total Fees and Expenses: 
4%
Minimum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Maximum Mortality and Expense Risk Charge “M&E Fee”: 
1%
Administrative and Contract Maintenance Expense: 
0%
Administrative Fee: 
$50
Minimum Investment Management Fee: 
0%
Maximum Investment Management Fee: 
2%
Total Number of Investment Options: 
76
Maximum Number of Concurrent Investment Options: 
76
Free Withdrawals: 
Yes
Free Withdrawal Limit: 
100
Guaranteed Death Benefit: 
Available
Are Telephone Transactions Allowed: 
Yes
Commissions (Maximum): 
6%
Key Phrases:
Glossary: 
Annuity
Variable Annuity
Annuity Product Types: 
Variable Annuity

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