Many Variable Annuity Investors Remain Confused And Angry

Variable annuities have had a bad rap for some time. They are expensive, with brokers charging commissions between seven and ten percent of the amount invested. They are extremely difficult to understand, due to layers of opaque surrender charges and fees. And - because of tax deferrals - variable annuities are not appropriate for retirees, even though many brokers can't resist the fat commissions for selling variable annuities to older investors.