**In reference to general account obligations and guarantees, such as is present with fixed annuities, the ability for the insurance company to meet these obligations to policyholders are subject to sufficient capital, liquidity, cash flow and other resources of the insurance compay. A variable annuity is an insurance contract with offers three basic features: (1) annuity product options that can provide guaranteed income for life, (2) a death benefit, and (3) tax-deferred treatment of earnings. The value of the seperate account of variable annuities is not guaranteed and will fluctuate in response to market changes and other factors. Variable annuities are designed to be long-term investments and early withdrawals may be subject to tax penalties and charges.