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Many variable annuities impose no trading limits.
The chapter on variable annuities carries the headline "Just Say No to Variable Annuities".
Variable annuities were intended for long-term retirement investment.
Variable annuities present something of a puzzle to thoughtful investors.
And variable annuities are not the only annuities out there.
Net sales of variable annuities dropped to $29.9 billion in 2001, down from $43.9 billion in the previous year, according to the National Association for Variable Annuities.
But variable annuities are hurting the insurance companies in other ways.
But the flight from mutual funds has been much more severe than from variable annuities.
The regulators said they thought the improper trading in variable annuities was instigated by hedge funds.
Regulators say bonus variable annuities were designed to entice customers away from other companies.
The market slump has led legions of investors to dump variable annuities and mutual funds.
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