Equity Indexed Annuities: Are they the real deal or junk products?

[Mattschmidt]

He did the same thing to me. We will prosecute him. But you are right nathan, the product is not bad is the agent

Wow! some of these comments about your Advisor could be deemed libelous. You had 30 days to review your contract and could of gotten out of the contract...Be careful when you attack an Insurance Professional

 

[indexedannuity_girl]

Welcome to the Forum Sheryl or at least welcome to active participation! Happy to have your expertise here.

Thanks so much, Nathan. There is only one of me, so I don't always have a ton of time to come-out. However, i want to make certain I help people understand these products, so I will do what I can!
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They are junk. I just bought one last year from Eric Snyder and he did not gave me the comparison that shows the old product from the new product and I got the worst deal ever. He should go to jail for that.

I am sorry that you had a bad experience. However, no product is inherently "goo" or "bad." Perhaps the product that you purchased just wasn't the right one for you?

Please be careful about labeling products like this in the future. You may impact someone else's decision-making and cause them to NOT choose a product which could promise them no loss from market downturns.

I only wish someone had told me about indexed annuities before I lost more than a years' salary in my 401(k) back in 2000...
sjm

 

[KJ in Miami]

Funny, the Miami-Dade School Board recently sent out a email warning its folks of these products!

 

[iceco1d]

Did they send out a sample contract for the employees to review?

 

[Norwayguy]

Funny, the Miami-Dade School Board recently sent out a email warning its folks of these products!

But thats it...They control thier Plan Document, They have the ability to not allow Fixed Indexed Annuities to be purchased as part of thier 403(b) program. FIAs can be over hyped but they are not evil.

 

[DHK]

http://403bwise.com/pdf/LAT_union_advice_failing.pdf

I doubt the Miami-Dade School board is "unbiased".

 

[bluemarlin08]

So, if the average fixed annuity rate is 2.05% today, indexed annuities issued today will earn 3.05% - 4.05% over the life of the product.

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Rather than "will" don't you mean "might".

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[nathan.lee]

Did they send out a sample contract for the employees to review?

Priceless! Thanks Ice for a great laugh to start the day.

 

[iceco1d]

Glad someone got it! :-)

 

[JMO Fan]

Non-indexed (declared-rate) deferred annuities seem likely to produce stronger long-term results than indexed, if the index is the only difference. FIA must divert some of the premium to purchase hedges against the stock index, which cannot be converted to credited interest. If the commissions are the same or higher, that also weakens the FIA product as compared with declared-rate S/FPDA.

But some people are attracted to the allure of stock index growth. If that gets them to put more money aside toward their future, that offsets the potential disadvantage of diverted dollars. Most save too little, including me.