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High Interest Rates On Annuities Often Quietly Convert To Low Interest Rates
G. Wade Caldwell, via 403bwiseLink to more items from this source
[Opinion]
Aug. 12, 2002
Excerpt: Sometime in the early 1990's, some insurance executive reasoned that if they advertised a high interest rate to attract the money, and kept advertising an attractive rate to keep you investing, it was okay for the insurance company to quietly start paying less interest on 'old money', i.e. money you deposited in your annuity or life insurance policy more than twelve months ago.

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