A variable contract is a contract to make regular payments to a person for life or for a fixed period.

Name: A variable contract is a contract to make regular payments to a person for life or for a fixed period.
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A variable contract is an insurance or annuity contract in which the amount of the periodic payments can vary depending on the performance of the investment options chosen by the policyholder, rather than guaranteeing a fixed payment.

A Variable Contract Is a Contract to Make Regular Payments