November 17, 2008
In a time when many retired people have lost major portions of their retirement assets, people who have chosen the safety of traditional fixed, or fixed indexed annuities have not lost a penny due to market decline. If and when the market does begins to recover, many of these seniors will never get back to the level of assets they had before this fall.
It is ironic to me that we are told that the fixed products are too complicated. How many people who own either stock or mutual funds read all of a prospectus and really understand it.
One client told me recently, "Every morning I am thankful for the decision we made to keep a portion of our money safe."
There are irresponsible and unethical representatives of the fixed annuity world just as there are those kinds of people who are brokers and real estate agents and business people and bankers and politicians, etc etc. Our industry has and is working hard to make sure that agents do the right thing. As an agent, I accept it as my responsibility to comply to all company training and rules, and most importantly - to
treat people with the highest of ethical standards.