Variable Annuity
from Wachovia Bank

Variable Annuities can potentially yield similar advantages and earnings of the equity markets, and earnings can also be tax-deferred. The IRS has no say over how much you contribute, and your beneficiaries can receive your distributions upon your death. There are also a variety of payment options available, like a guaranteed lifetime option, when the account matures. Keep in mind, this is more risky than a Fixed Rate Annuity.