Definition of "Prospectus"

A formal written offer to sell securities that sets forth the plan for a proposed business enterprise or the facts concerning an existing one that an investor needs in order to make an informed decision.

The legal document that provides detailed information about your variable annuity contract. It must be given to every person who is offered to buy a variable annuity contract.

A formal written document which provides a business plan and objective for a proposed business or investment opportunity, or historical information concerning an existing entity. This information is required in mutual fund, limited partnership and public offering investments to enable investors to make an informed decision before committing resources.