Americans may understand their 401(k), stock and mutual fund investments fairly well, but when it comes to variable life insurance and annuities, there is a considerable lack of knowledge, according to a recent study of high income professionals conducted by Nationwide Financial Services of Columbus, Ohio.

The 2001 Nationwide Financial High Income Survey polled 500 people under the age of 60 with annual incomes above $150,000, according to Nationwide. The pool of respondents was made up of doctors, lawyers, corporate executives, small business owners and high-tech executives.

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