Happy with annuity

Your article on annuities ("The Truth About Annuities," August 1999) made strong points against them. Happily, I saw that you did verify arguments for them. For example, my fixed disability benefit is reduced at age 65; my variable-annuity, universal-life policy will "take up the slack." Not needing the death benefit, the entire instrument (principal, earnings, loan value, etc.) will be used for living expenses, FIFO.

Rick Waters, DMD

Athens, Ga.

Your article on annuities ("The Truth About Annuities," August 1999) made strong points against them. Happily, I saw that you did verify arguments for them. For example, my fixed disability benefit is reduced at age 65; my variable-annuity, universal-life policy will "take up the slack." Not needing the death benefit, the entire instrument (principal, earnings, loan value, etc.) will be used for living expenses, FIFO.

The past five years, my policy`s four mutual funds have collectively yielded me a 29 percent return, tax-free, per year after all expenses and the cost of the insurance. Even with higher-than-normal fees, the return is admirable.

I liken it to providing above-the-standard-of-care restorative treatments. You deserve better than average compensation. I am more than happy to share a still very small part of my earnings with my financial planner.

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