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What Investors Need to Know
A variable annuity is a contract between an investor and an insurance company where, in return for a lump sum payment or a series of premium payments, the insurance company agrees to pay to the investor a lump sum or a stream of income based upon the performance of an investment account (stocks, bonds or other types of investment products), less any applicable charges and fees. Because your investment account is subject to the ups and downs of the securities markets, the value of your variable annuity can vary.
Also, contact your tax professional about any possible negative consequences of buying or switching to an annuity from another type of investment; or if the annuity interferes with your eligibility for medical care or housing assistance programs.
Before signing on the dotted line, verify the license status of the variable annuities salesperson by contacting the Securities Division's Investigator on Duty at 602-542-0662 or toll free within Arizona, 1-866-VERIFY-9 (837-4399) or by email. Annuities, insurance producers/agents and insurance companies are regulated by the Arizona Department of Insurance, 1-800-325-2548.
Read more about variable annuities before you invest, including these helpful tips from the Arizona Department of Insurance to protect yourself against deceptive sales practices. For more general information about wise investing and fraud prevention, visit the Investor Resource Library, General A-Z.
Variable Annuities: What Investors Need to Know
Smart Fraud-Fighting Tips for Older Investors