Variable annuity products are investment products that allow investors to put money into a variety of investments, such as stocks, bonds, and mutual funds. The value of the investments can go up or down, depending on the performance of the underlying investments. The investor can choose to withdraw money from the annuity at any time, but the amount withdrawn will depend on the performance of the investments.

Fixed annuity products are investment products that guarantee a fixed rate of return over a certain period of time. The investor can choose to withdraw money from the annuity at any time, but the amount withdrawn will depend on the performance of the investments. The investor is guaranteed a minimum rate of return, regardless of the performance of the underlying investments.