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EQUITY INDEXED ANNUITY FRAUD

The Nygaard Law Firm has built a reputation as a strong advocate for people who were sold annuities that were inappropriate and unsuitable for them. Some people are unaware that an "investment" sold to them is annuity, others do not understand what an annuity is, and still others do not understand how expensive it can be for them to get to their money invested in the annuity.

The "hot" product being sold by insurance agents these days are Equity Indexed Annuities. These complex products are sold by agents who do not understand the manner in which the annuities operate. Furthermore, many agents sell these products as as "risk-free" investments that provide positive returns that mirror the performance of various stock (and in some cases, bond) indexes. However, as the old saying goes, "if it sounds too good to be true, it probably is." 

To help you understand these complex products a little better, we have links to some of the best articles available on the internet. We have also provided you with links to two recent warnings issued by regulators to investors regarding Equity Indexed Annuities. These press releases are especially of interest to those who were encouraged to sell or surrender an existing annuity product to purchase an Equity Indexed Annuity.

Click here to read the SEC press release.

Click here to read the NASD press release. The NASD has also issued a Notice to Members on the subject, which you can read here.

Articles Discussing Equity Indexed Annuity Products

(Note: To View These Articles, You May Need To Modify Your Browser

to Allow Pop-Ups)

• Paul Wenske, Kansas City Star,
• Annuity Deals Aren't Always An Exchange For The Better (May 28, 2006).
• Lisa Shidler, InvestmentNews.com
• Annuity Providers 'C' Problem (May 15, 2006)
• Sara Hansard, InvestmentNews.com,
• Regulator Sees Danger in Annuity Specialization (May 15, 2006);
• Annuities Lack Uniform Standards, NASD CEO says (May 15, 2006)
• Brooke A. Masters, Washington Post,
• Are S&P-Linked Annuities Worth the Risk? (May 8, 2006)
• Annuities With An S&P Return (April 30, 2006)
• A. Forbes, The Herald,
• Indexed Annuities Draw Attention From Regulators (January 22, 2006).
• Josh Friedman, Los Angeles Times,
• Seniors Get a Hard Sell on Fee-Laden Annuities (April 24, 2006)
• Robert Powell, MarketWatch,
• A Ball Of Confusion: Beware Equity Indexed Annuities Promising Return Sans Risk (February 10, 2005).
• Eileen Ambrose, South Florida Sun Sentinel,
• Equity-Indexed Annuities Bear Close Review (August 28,2005).
• Donald Moine, Morningstar.com,
• A Notice Regarding Equity-Indexed Annuities (September 22, 2005);
• Do Clients Understand Equity Indexed Annuities? (October 27, 2005).
• Heather Almand, The Financial Planning Association,
• FPA Requests SEC Action on Equity Indexed Annuities (March 3, 2005). 
• Read the FPA's letter to the Chairman of the Securities and Exchange Commission regarding Equity Indexed Annuities.
• Jeffrey D. Voudrie, CFP, GuardingYourWealth.com,
• How Senior Citizens Can Hype-Proof Their Portfolio (April 21, 2006);
• Equity Indexed Annuities Exposed As Dangerous To Senior Citizens (April 5, 2006);
• Oversight Needed On Equity Indexed Annuities (2003);
• Equity Indexed Annuities Being Exposed (2003);
• Federal Regulators Concerned About Equity Indexed Annuities (2003);
• Equity Indexed Annuities - Putting Lipstick on a Pig (2003);
• Equity Indexed Annuities: Agents Prey On Unsuspecting (2003);
• Consumer Alert: Equity Indexed Annuities (2003);
• Equity Indexed Annuities: Don't Take the Bait (2003);
• Equity Indexed Annuities: The Next Big Scandal (2003).
• Securities Litigation & Consulting Group,
• Equity Indexed Annuities - Toxic Investments (November 15, 2005) (Adobe Reader required).
• Humberto Cruz, OCRegister.com,
• Take Care When Buying Equity Indexed Annuities (August 1, 2005).
• John Waggoner, USA Today,
• Sometimes, Equity Indexed Annuities Are OK; Sometimes (July 29, 2004);
• Equity Indexed Annuity Complex (July 31, 2004) (Source: The Cincinnati Enquirer).
• Walter Updegrave, CNNMoney.com,
• Downsides of Equity Indexed Annuities (December 13, 2005).
• InvestmentAdvisor.com,
• NASD Cracks Down on Equity Indexed Annuities (November 2005)
• Kathleen Lynn, North Jersey Media Group,
• Equity Indexed Annuities Don't Make Sense (September 7, 2005) (Source: Insurance Newsnet).
• Jonathan Clements, The Wall Street Journal,
• Big Insurers Avoid Equity Indexed Annuities (December 14, 2005) (Source: Pittsburgh Post-Gazette).
• Ted Griffith, The News Journal,
• Watch Out When Investing In Annuities (December 5, 2005) (Source: Delaware Online).
• Deborah Adamson, Honolulu Advertiser,
• Equity Indexed Annuities Can Have Drawbacks For Investor (January 13, 2005).