If the agent has had one for the past 10 years then ask to see his yearly statements...
The fact that you are questioning that statement tells me your gut knows the truth already. Trust your gut.
Current Index Annuity Rates (meaning caps or participation rates or spreads) are significantly less than they were 10 years ago. No way will a product sold today perform as well as one bought 10 years ago. Its just plain math and common sense.
Furthermore, if any agent tells you an indexed annuity is going to perform at 10% they are full of it. They are also violating the insurance carriers marketing and sales guidelines.
Indexed Annuities designed for growth are going to be in the 4%-6% range for long term growth. You might have one or two years that hit the 10% range if your using an uncapped index strategy. But returns over 6% are the exception and not the norm.
I also would never recommend (or personally own) an annuity over a 10 year surrender. Most of what I recommend to clients is in the 6-8 year range. Especially considering the current uncertainty regarding interest rates.
But to answer your question, no, BCA annuities have not performed at 10% every year for the past 10 years.
