Final answer:
A variable annuity, specifically a no-load variable annuity, is the most suitable type for Tina because it aligns with her long-term, stock market-based, tax-deferred investment strategy and her preference to avoid paying for unnecessary product features.
Step-by-step explanation:
Tina, looking at investing in the stock market on a tax-deferred basis for retirement, would find a variable annuity most suitable. A variable annuity allows Tina to invest in various options such as mutual funds that are tied to the stock market, with the potential for higher returns over the long term. Since she has a lengthy timeframe and acknowledges the stock market's volatility but expects higher returns over time, this aligns well with her investment philosophy. A variable annuity also provides tax-deferred growth, meaning taxes on investment gains are deferred until withdrawal, which could be beneficial as Tina might be in a lower tax bracket upon retirement.
To align with Tina's dislike for paying for unwanted product features, a no-load variable annuity, which does not charge a fee for purchase or sale of the annuity, would be appropriate. This type of annuity avoids the sales charges often associated with other investment products, making it a cost-effective choice for a savvy investor focusing on long-term stock market growth. It is imperative that Tina understands the fee structure of any annuity she considers to ensure it aligns with her goal of not paying for unnecessary features.