For the love of GOD, quit letting insurance guys talk you into shitty 12 year surrender annuities through shitty low rated companies.

That is all, carry on.

Good warning!

haha....it happens all day every day.

Note to self: don't hit yourself between the eyes with a ball peen hammer

(Some folks need practical advice)

tell me about it.

But....it feels so good when you stop.

Yea I cannot stand it as you know And I'm an insurance guy.

OK, I'm convinced.  But I'm going to ask for a bit more explanation for those of us who don't live and breath this stuff.
  What makes the 12 year shittier than any other number?
  These low rated companies are defaulting on their payments regularly?

I know it must drive you nuts seeing these yahoos give everyone else a bad name.

Alot of things can go sideways.

The mechanics....the majority if Fixed indexed annuities calculate the way they credit your account based on what the indexes that you chose did. Sometimes they stay the same other times they may change drastically. So, one yeah you may have a 100% participation rate and a cap of 10% the next year it drops to 4% See how that sucks. Well you would probably want out. Too bad, 12 year surrender with a 13% surrender charge that year.

The sales....The salesmen enjoy confusing the ever living shit out of folks by talking about the "income base" while it's a real number you calculate the lifetime income numbers on, it means fuck all when it comes down to "how much money can you write me a check for" It's casino math. But the way they are sold people thing their income base is their actual value. WRONG.

The company...If they go tits up, states are the safety net, the levels of the net are low. When you have a company that has a bad credit rating they need to make it enticing to buy their product. So, they stretch themselves out a little with their strategies.