Annuity FYI Visitor Blog

An article by Reuters’ Jonathan Stempel further emphasizes the importance of responsibility when selling variable annuities. The Financial Industry Regulatory Authority (FINRA) has fined Fifth Third Securities about $2 million (including $250,000 in restitution) for unsuitable sales of variable annuity products to the elderly, whom are least likely to benefit from them–their long surrender periods, expensive fees, and swings in value make them less than ideal for retirement.

However, FINRA claims that 42 Fifth Third brokers sold or exchanged over 250 identical variable annuity policies between 2004-2006, without consideration of each individual’s circumstances and investment goals. Such a strategy is unlikely to end well for many investors. On a positive note, while Fifth Third has not admitted wrongdoing, it has agreed to hire a consultant to reform its training and supervision practices so something similar never reoccurs.

We are writing to alert you to an exceptional short-term opportunity with Protective Life. They have just raised their ProSaver Platinum fixed rates — the 15-year rate is currently 5.50% for $100,000 or more (5.25% for less than $100,000). This rate is 2.66% higher than the 10-year treasury (as of end of day 4/20/09).  Protective may change their rates next week, so act now to lock it in!

Click here to go to Annuity FYI’s Fixed Annuity page.

We are writing to alert you that top insurance companies are reducing their GMIB guarantees (guaranteed minimum income benefits) in the next several weeks. We are currently in a very small window where you can still lock in the higher rates, but you must act quickly. Examples among Annuity FYI’s top recommended GMIBs include:

Why are these GMIB guarantees being reduced? Quite simply, they are too good a deal for the investor for the insurance companies to continue to offer.

• Contacting an Annuity FYI Expert by phone toll-free at 1-866-223-2121
• Clicking here to request information
• Click here to see Annuity FYI’s top recommended GMIBs

As you can see from the above table, Ohio National has the highest financial strength rating of those in the group, and its rating has not been downgraded. The others rated “Very Strong,” while still receiving a downgrade, still retain high ratings. If you currently own an annuity, or plan on investing in one, be aware of the most recent financial strength ratings before you invest.

• Contact an Annuity FYI Expert toll-free at 866 223-2121
• or click here.