Boston University School of Law
The variable annuity is a novel retirement plan. It was devised to minimize the inadequacies of a fixed-dollar annuity as a retirement device. Inflation and an accelerating standard of living have left persons receiving fixed-dollar annuities with only a fraction of the income required to meet their needs.
Variable Annuities, Variable Insurance and Separate Accounts,
Boston University Law Review
Available at: https://scholarship.law.bu.edu/faculty_scholarship/757