Question

what is needed prior to purchase of a deferred variable annuity

Answer 1

Deferred Variable Annuity: It is an annuity where payment will be made at some future date in the form of regular payment or lump sum with one modification that payment is not fixed it will be depend on the performance of the undrlying.

Thus one need to be very careful while purchase of a deferred variable annuity because one can not get good payment if the investment product not perform well since aanuity is mainly used for the retirement purpose one need to be careful while purchasing deferred variable annuity which may be fall in value at the time of payment. Also liquidity need to be considered while investing in the annuity.