The Evergreen Private Placement Variable Annuity (PPVA) is designed to build tax deferred long-term investment growth for the owners and/or beneficiaries of the annuity contract.
The “Variable” component in the name refers to the ability to select investments which produce variable returns that reflect market fluctuations. These returns are not guaranteed.
The annuity owner may contribute to the PPVA by way of a single premium or multiple premiums. Whichever option is chosen, the funds remain invested over time until a specified future date at which point the accumulated proceeds are distributed to the owner or, upon the death of the annuitant, to nominated beneficiaries. Accumulation occurs free of taxes which become due only upon distribution of the assets. This means that earnings on investments compound on a tax deferred basis over time which can make a significant difference upon distribution.
PPVA owners may choose from a wide variety of available investment options and there is no limit to the dollar value of contributions or to the number of such contributions that can be made. PPVA is fully compliant with United States and relevant International laws that enable the long-term investment assets held within a valid annuity contract to grow on a tax deferred basis.