What Are the Downsides to Equity-Indexed Annuities (EIA)?
Sometimes equity indexed annuities are appropriate investments. Unfortunately, many times the writing agent is simply looking to receive a large commission. The surrender charges on these products are steep, making them inappropriate for the elderly. For anybody considering this product, I would make sure a FINRA background check is completed on the agent. Again, the product does have it’ place, but not often does it make sense. Marc J.
