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I am not familiar with Allianz.

As far as fraud is concerned, the annuities industry has been accused of selling inappropriate products to senior citizens and agreed to change their practices. They were accused by attorney generals in several states.

Insurance products are regulated by the states, and most do provide services that some value. Their sales practices are agressive and sometimes seem to includes promises that they fail to keep (although they do comply with the fine print of the contract). I'm not sure that constitutes fraud. But it does fall into the caveat emptor category.

If it sounds too good to be true . . . can your local insurance company deliver on its promises and stay in business?
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