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The Truth About Buying Annuities
book

The Truth About Buying Annuities

by Steve Weisman
August 2008
Beginner content levelBeginner
208 pages
3h 51m
English
Pearson
Content preview from The Truth About Buying Annuities

Chapter 6. Variable annuities

 

“The pure and simple truth is rarely pure and never simple.”

 
 --Oscar Wilde

The deferred variable annuity is the redheaded stepchild of annuities. Many people, including myself, believe that they are not a suitable investment for most people. They are a perfectly legal product that, when sold to people for whom they are not suited, give annuities and annuity salespeople a bad name. However, for some people, they can be a good investment.

Let’s start with the basics. Variable annuities have been described as being mutual funds wrapped in life insurance. To this definition, I would add “and covered with fees,” which is one of the major problems with variable annuities. They are just too damn expensive.

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Publisher Resources

ISBN: 9780131359512Purchase book