What type of annuity shows a contract owner's interest in a separate account after annuitization?

Annuity Units represent the portion of the owner's investment in a variable annuity that is converted into periodic payments after the annuity is annuitized. When the annuity is annuitized, the value of the owner's investment is expressed in terms of annuity units, which are used to calculate the payment amounts that the annuitant will receive. These units fluctuate based on the performance of the separate account in which the annuity's assets are invested, reflecting the owner's interest in that account.

This measurement allows annuitants to see how their investment is performing and what their payments will be based on the investment's growth or decline. In essence, annuity units link the investment returns from the separate account to the income stream provided to the annuitant, making them a critical component of variable annuities post-annuitization.

The other options do not accurately describe this relationship with the separate account. Annuity Balance typically refers to the total account value prior to annuitization, Annuity Shares could misleadingly imply shares of stock rather than the specific units used in annuities, and Annuity Interests might not sufficiently convey the specific nature of the units used to determine ongoing payments post-annuitization.