I Got Suckered

Q: Is there a way to get out of an index annuity successfully? I'm one of the "suckers" who was tired of losing money and listened to the sales pitch of how you can't lose. I feel very, very stupid and very sad. I was never told before I signed all the various papers that there were incredibly huge surrender charges.

If I had been told specifically that it would cost almost 25% to use my own money I NEVER would have done this. Because I thought there was no way out, I haven't pursued doing so. After learning that my hard earned money saved from all the years I taught was making hardly anything, I've decided that I need to do something. Can you give me any encouragement? Should I hire an insurance lawyer?

A: It might be worth your while to have an attorney write letters to the EIA company on your behalf.

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