Fixed Index Annuities: ‘Magical’ or ‘Unsuitable’?
April 2, 2019 by Philly.com
April 02–
JESSICA GRIFFIN / Staff Photographer
Fixed index annuities
High-profile fixed index annuities salesman Phillip J. Cannella 3rd at one the free dinners he hosts across the region to promote his company. Cannella, who also hosts an hour-long paid radio infomercial every Saturday and Sunday, says his firm writes $100 million in contracts annually, earning $6 to $8 million in commissions.
As sales of the insurance product soar, regulation remains lax, and experts urge caution, especially by the elderly. Trump could halt a rule aimed at putting clients first.
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