No. of Recommendations: 3
What's scary is that these rediculous claims work. The unwary read something like this, give the insurance company a large chink (if not all) of their savings, get paid back to them 98.5% of their capital, get an IRR of (around) 1.5%, think they are getting (insert any high % here that sounds great but not so high as to sound like a scam) and live out retirement in complete financial bliss.

Because fixed insurance products are exempt from most federal regulation, there is no "truth in lending" requirement for how insurance "rates" are calculated. The retiree is on his own.

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