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Tag Archive: are insurance companies able to back out of income guarantees

The Great Escape: Annuity Companies Try to Back Out of Income Guarantees

Michael Canet

Over the last decade, certainly up to the 2008 market crash, one of the hottest-selling investment products was the variable annuity. While there is no silver bullet out there, variable annuities (VAs) were often presented as an investment tool that came with guarantees of income for the investor. After getting burned by the market in early 2000s, many investors were looking for just that: A guarantee. After all, that is what an insurance company is for; they transfer the risk to another person. In this...

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