[Series 65] 34, Annuities Fixed Variable and Indexed

[Series 65] 34, Annuities Fixed Variable and Indexed

From Open Exam Prep by Ran Chen, EA, CFP®

April 27, 2026 · 3 min

About this episode

This episode discusses the different types of annuities and their implications for exam preparation.

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The distinction between the accumulation and annuitization phases and how they are tested. - The different risk profiles of fixed, variable, and indexed annuities and why only variable annuities are securities. - The LIFO (Last-In, First-Out) tax treatment for non-qualified annuity withdrawals, a common exam trap. - The dual threat of surrender charges from the insurance company and the 10% IRS penalty for withdrawals before age 59.5. - How tax-deferred growth is a key benefit but that all earnings are eventually taxed as ordinary income. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

People in this episode

Host: Ran Chen

Topics covered

  • annuities
  • financial education
  • exam preparation
  • tax treatment
  • investment risks

Keywords

  • annuities
  • fixed annuities
  • variable annuities
  • indexed annuities
  • tax treatment
  • surrender charges
  • exam preparation

Mentioned in this episode

Organizations: Open Exam Prep, IRS

Products: fixed annuities, variable annuities, indexed annuities

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