Which statement is TRUE about a non-qualified variable annuity?

Insurance

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Which statement is TRUE about a non-qualified variable annuity?

A. Contributions to the contract are tax-deductible

B. Investments held in the separate account grow tax-deferred

C. Withdrawals from the contract prior to retirement age are tax-free

D. Withdrawals from the contract after retirement age are tax-free

Answer: B.

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