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HELLO! Your article is based on info from 1987. Most of the variable annuities that were invested in over the past several years had some form of an income guarentee and you don't even address that in the story. NOBODY BUYS ANNUITIES IN AN IRA FOR THE TAX DEFERRAL!!!!! FINRA actually has an acknowledgement for consumers purchasing them. You didn't mention that most carriers have short term surrenders and completely liquid versions of their products that pay the advisor the same annual fee that most fee only advisors charge, 1% a year. If you want to pick on the extremes then don't ever buy a mutual fund because "some of them" have fees that can be higher than 8% per year! If these fees are so high and a terrible deal for the consumer why did so many insurance companies pull their products? It's because they were underpriced and if you read any credible publications like the Wall Street Journal you would be aware of what a great deal these were for consumers and unfortunately most of your readers missed out on a great opportunity to have some strong guarentees in their portfolios when they needed them most...in 2008. I hope that you do more research next time before you write an article, so that you don't hurt any more readers.