The TIAA Real Estate Account is a variable annuity product and an insurance separate account of TIAA. The real estate industry is subject to various risks including fluctuations in underlying property values, expenses and income, and potential environmental liabilities.

How do I know if I have a fixed or variable annuity?

A fixed annuity guarantees payment of a set amount for the term of the agreement. It can’t go down (or up). A variable annuity fluctuates with the returns on the mutual funds it is invested in. Its value can go up (or down).

What was the first variable annuity?

1930s — When the Great Depression hit, investors started turning to annuities as a safe place from volatile markets. 1952 — The first deferred variable annuity was introduced by TIAA-CREF.

What is an intelligent variable annuity?

With an Intelligent Variable Annuity you can guarantee your income payments using one of our lifetime income options. You can also provide guarantees for your loved ones by selecting the Guaranteed Minimum Death Benefit rider at issue, for an additional fee.

Why do annuities exist?

People buy annuities to create long-term income. While most often considered financial solutions for older people who are close to retirement, annuities can benefit investors of any age with a variety of financial goals. Reasons to buy an annuity include: Long-term security.

What do you need to know about variable annuities?

A variable annuity is a contract between you and an annuity provider — usually an insurance company — in which you purchase the ability to receive a stream of income for your life or a set period of time.

Is there a free look period for variable annuities?

Most variable annuity contracts have a “free look” period. It’s a test run on the annuity for you to determine if it’s right for your situation. This is a time of 10 or more days in which you can cancel your contract without paying surrender fees.

How does return of premium work in variable annuities?

The amount of income you receive will rise or fall, depending on the performance of the portfolio. Usually, the annuity company guarantees return of premium (ROP), which means that you won’t lose your initial investment. But if your portfolio doesn’t perform well, you may not earn any growth.

Do you have to pay taxes on variable annuity?

You won’t owe income taxes until you make a withdrawal or start receiving payments from your variable annuity. Additionally, as with all annuities, a variable annuity offers a protected lifetime stream of income. For many, the knowledge that they won’t outlive their money gives them great peace of mind.