Equity Index Annuity. We invested over $200 thousand three years ago. We were told that we made over $12 thousand in this period. We wanted to cash out and invest in Variable Annuities. We were told that our withdrawal would be $40 thousand less than the invested figure. I asked why was it that we were being told that we made over $12 thousand, but losing $40 thousand. I asked if that was a result of commissions being paid.
After the first year our "friend" switched us to another plan. I think this was for another commission. This last time he wanted another switch to Jackson Insurance Co. We called it quits. We could not get an answer to the a percent commission being paid. The answer was always "What do you think it is? Have you ever done anything to inform the public about "Equity Index Annuities? I believe it is a great money making opportunity ... for the people selling it. Thanks for your time.
