My father has a fixed annuity product earning an interest rate of 4%. Because of the way the contract is written, he can put money in and take money out as he pleases. He is effectively using the annuity as a bank account (while earning 4% interest on it). When the company realized people could do this, they stopped selling the contract very quickly. Are there any products like this today? That is, are there products that consumers can misuse to their own benefit today (not necessarily annuities)?
Submitted March 03, 2017 at 11:30PM by CrapIForgotMyUserNam http://ift.tt/2mPLcVe
