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Estate Planning Definitions & Glossary

Below is a helpful list of terms and words found on this site or related to estate and trust planning.
V
Variable Annuity
An annuity/life insurance product where the annuity premium (usually a fixed amount of dollars paid at the inception of the policy) is immediately turned over into units of a portfolio of stocks. Upon retirement, the policyholder is paid according to the accumulated units, the dollar value of which varies according to the performance of the stock portfolio. Its objective is to preserve, through stock investment, the purchasing value of the annuity which otherwise is subject to erosion through inflation.
Variable Life Insurance Policy
A life insurance policy where premium payments are invested in the stock market. The value of this policy may be extremely volatile. 
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Disclaimer: The information contained on this site shall not be construed as legal advice, as the information is general in nature and is not specific to any individual client or jurisdiction. No attorney/client relationship shall be established in the use of this site.While every effort is made to keep the information up to date, there is no warranty, expressed or implied, that the information contained herein is current. One should always consult with his or her own qualified estate planning attorney before acting on any legal or tax matter.