Most variable annuity products distributed today are complex commodities with an abundance of moving parts. It is due to this complexity that regulatory authorities severely scrutinizing the sale of these products. In that a variable annuity is an insurance product and a security product regulatory disclosure is required by both state insurance and securities regulators in addition to the federal securities regulators. Yet given the level of complexity and the level of regulatory scrutiny, funds invested in variable annuities have reached well over one trillion dollars; a lot of money no matter who you are.
