Ron is paying into an annuity that will be used to help supplement his retirement in a few years. His premium payments go into the insurer's "separate account" and they purchase "accumulation units." What type of annuity did Ron buy?
A. Periodic premium immediate annuity
B. Fixed annuity
C. Guaranteed qualified plan annuity
D. Variable annuity
Ans: D. Variable annuity
Business
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