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Giving Away the Keys to Retirement

Sunday, August 15, 2010

Giving Away the Keys to Retirement

By Robert Schmansky

This is a part of a series of articles discussing why you should avoid variable annuities for the purposes of retirement income.

Congress is meeting with representatives from Prudential Financial Inc. regarding concerns over the company’s use of ‘retained asset’ accounts used for the payout of life insurance proceeds to military spouses and survivors. As Bloomberg Businessweek has recently reported, these accounts keep the policy proceeds with an account with the insurer, though funds are accessible to the beneficiaries when writing checks. The main concerns

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