Equipped With Well Informed Questions

Q. I read your "Guaranteed Minimum Income Benefit" piece tonight. It was a real eye-opener, because I did not realize that the GMIB is actually a variable annuity fund.

A representative of a large insurance company pitched a GMIB to me today and, of course, he made it sound really good. However, I thought the cost was high: 1.2%--and he was unable to tell me where the money to pay that cost would be coming from--the principle or the guaranteed five percent increase in value.

I'm also not sure that such an investment would be correct for me at my age--I am 66. I did feel that the pitch described something which was too good to be true. (I look askance at insurance company offering thanks to a policy I bought some time ago-a policy which has absolutely failed to live up to the promises made for it by the agent involved in its selling.) Thanks to your article, i feel I will be able to ask some well-informed questions the next time I meet with this agent.

Thanks for the insight!

A. You are more than welcome. People like you are the reason I do what I do.

Your comments are greatly appreciated.

Your posted comments on this and other questions are welcome.
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