| 11. | The reason can be boiled down to two words : variable annuities.
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| 12. | In 1993 and 1994, a lot its inflows were in variable annuities,
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| 13. | Variable annuities are investments that combine an insurance policy with mutual funds.
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| 14. | You have three basic ways to withdraw funds from a variable annuity:
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| 15. | Variable annuities essentially are mutual funds wrapped in an insurance contract.
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| 16. | You have to sell the fund position and then buy the variable annuity.
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| 17. | Another option : a variable annuity invested in Vanguard Index 500.
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| 18. | Offering variable annuities and retirement plans isn't new for insurance companies.
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| 19. | Why did I say put most of the money in variable annuity accounts?
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| 20. | Touchstone also manages $ 70 million in variable annuity accounts for individual investors.
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