How Do Variable Rate Annuities Work? 
Variable annuities -LRB- VA -RRB- s are a security under FINRA and an insurance product under the department of insurance . VAs have two account types : the general interest rate account and the separate sub account that uses equity and bond investments . VAs have internal charges that are paid from the contributions of the policy owner and any crediting or debiting of the accounts are applied , i.e. you can lose make or lose money . 