Variable annuities are "insurance-based products that have no reason to live,"
The best-case scenario for variable annuity policyholders, is when they own extremely volatile funds during a markets height but die when the market reaches its nadir, he explains. "Dying is a good way to maximize your investment," he quips.
Burns reached this conclusion following a "variable annuity watch" exercise, during which he compared the performance of the best domestic equity sub-accounts against the Vanguard 500 Index fund.
