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Posted by joetaxpayer on October 1, 2007, 8:23 am
pbd22 wrote:
> Hi.
>
> I am not a finance person, but have a financial adviser that
> recommends our family do a 1035 exchange from our
> current Allianz fixed annuity to a Jackson National variable
> annuity.
>
> I am just wondering if anybody out there could come up
> with any reason why this would be a bad move (besides
> the costs associated with the transition).
>
> Thanks in advance.
With the disclaimer that I am on record as anti-VA (but pro immediate
annuity for the right client) I believe a switch to Jefferson National
makes more sense. They have an offering that eliminates all bells and
whistles, providing a $240/yr fixed fee. No other fees except for the
underlying funds within the VA. Doesn't Jackson has all the added
expenses including mortality, etc, driving the extras up past 1%/yr?
(I recognized the name but it's been awhile since I sifted through the
prospectus, if I recall incorrectly, my bad, but you should know your
potential expenses cold)
JOE
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