AIG Polaris variable annuity

Corporateburnout · 11-07-2006, 06:40 PM

A co-worker who has no clue on investing and is planning to retire in a couple years met this financial advisor from a bank where his wife work to discuss developping his financial plan and manage his investments for a 1% fee. I have been trying to talk this guy into consolidating his investments with Fidelity and manage it himself but to no avail. One of the products this guy recommended for a portion of his portfolio was an AIG Polaris variable annuity. I am not at all familiar with annuities but was wondering if anyone knows anything about this particular one.

LOL! · 11-07-2006, 09:15 PM

One can search this site for the great annuity debate which is 99% against and 1% for.

One can also read this article by Peter Katt CFP about them:

The Good, Bad, and Ugly of Annuities

http://www.fpanet.org/journal/articl...p1106-art3.cfm

brewer12345 · 11-08-2006, 06:56 AM

Dunno about that particular annuity, but a variable annuity sold by a bank rep to an unsophisticated customer = royal screw job.

FinanceDude · 11-08-2006, 10:33 AM

Quote:

Originally Posted by brewer12345

Dunno about that particular annuity, but a variable annuity sold by a bank rep to an unsophisticated customer = royal screw job.

1)Agree

2)Agree

3)Agree

4)Agree

Man, I am agreeable today...........

11-07-2006, 06:40 PM	#1
Corporateburnout Recycles dryer sheets Join Date: Sep 2006 Posts: 212	AIG Polaris variable annuity A co-worker who has no clue on investing and is planning to retire in a couple years met this financial advisor from a bank where his wife work to discuss developping his financial plan and manage his investments for a 1% fee. I have been trying to talk this guy into consolidating his investments with Fidelity and manage it himself but to no avail. One of the products this guy recommended for a portion of his portfolio was an AIG Polaris variable annuity. I am not at all familiar with annuities but was wondering if anyone knows anything about this particular one.

11-07-2006, 09:15 PM	#2
LOL! Thinks s/he gets paid by the post Join Date: Jun 2005 Posts: 2,298	Re: AIG Polaris variable annuity One can search this site for the great annuity debate which is 99% against and 1% for. One can also read this article by Peter Katt CFP about them: The Good, Bad, and Ugly of Annuities http://www.fpanet.org/journal/articl...p1106-art3.cfm

11-08-2006, 06:56 AM	#3
brewer12345 Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Mar 2003 Posts: 9,248	Re: AIG Polaris variable annuity Dunno about that particular annuity, but a variable annuity sold by a bank rep to an unsophisticated customer = royal screw job. __________________ “When you realize that you are one of the rare few who observe moral principles in their relationships with others, there is a temptation to sink into amorality, not out of conviction or pleasure but simply to avoid further pain, because there is no greater suffering than being an angel in hell, whereas a devil feels at home wherever he goes.” – Martin Page, How I Became Stupid

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