When Did Variable Annuities Start? 
In 1952 TIAA-CREF -LRB- Teachers Insurance and Annuity Association College Retirement Equities Fund -RRB- manufactured the first variable annuity policy , oddly enough it was for qualified plan funding . Since it 's inception in the fifties , variable annuities , both qualified and non-qualified , have attracted billions of dollars from investors who seek its tax deferral feature and market access that variable annuities provide . 