Variable annuities were created to give retirees access to lifetime income with the potential for growth. Today’s products offer a range of features such as liquidity, investment risk hedging, access to a risk premium, tax deferral, and longevity protection. This panel address the tradeoff of these product features and when they provide the greatest value to retirees. The best variable annuities offer reasonable-cost options that provide income, investment flexibility and downside protection when clients need them most. CFP and IWI CE credits pending.