What Is A Straight Life Variable Annuity? 
First , a straight life annuity is most usually set-up on a ` fixed ' basis and not a ` variable ' one . This is especially the case since the intent is usually to give the policyholder or ` annuitant ' an income stream in retirement . A major point is that payments to an annuitant cease when the annuitant dies . The intent of the policy is to give the annuitant steady payments for his or her lifetime . Their is no beneficiary involved . Some policyholders may want to speculate on the amount of regularly scheduled payments by purchasing a variable annuity but most would rather not risk negative investment results , adversely affecting their retirement payments . Therefore , back to the first point : Fixed annuities are more popular than variable ones . 