Hi AJ,Executive Life annuity policy owners had their annuity payments decreased recently: http://www.post-gazette.com/stories/business/news/broken-pro...... Yep... let's call that "death by lightening strike." It's bad.Then there's death & dismembership by automobile... (i.e. naked investing.)It's an issue of frequency. Exec Life is the only example of a fixed life company failing that you or anyone else has found (maybe some other failure as escaped the internet... but that's even less likely.)Exec life gave 1,500 people, 15% of its policy holders, a 53% drawdown.How many people took a 40%-53% principal hit by investing naked (regardless S&P or any other markets)?And how *often* do naked investors get hammered this way?As I said.... the two strategies are not even in the same universe regarding risk.Dave DonhoffLeverage Planner
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