What Is An Immediate Variable Annuity? 
In Canada , an immediate variable annuity refers to an annuity where all or part of the income received is dependent on the performance of an equity unit . Often , this is an index like the S&P 500 or it could be based on the performance of a particular investment fund . This type of annuity can form an important component in a retirement income plan . The plans and options can vary from company to company . An independent life insurance broker , representing several companies , could help you find the right product at the right price . If you have further questions , or if you fell that i could be of assistance , please do not hesitate to contact me . 