re: Phone call with Fidelity rep

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Annuities are protected up to $250k by the state. Other states have this as well.

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Those are illusory if you dig into state guarantees, most are grossly underfunded, especially if a company has issued a ton of policies in a given state and the company blows up. This reminds me of the dumb fricks on the BOD I'm own that can't see the problem with 5-yr CDs that are callable after 12 months when you can invest in similar term CDs that are non-callable and it costs 15 bps less than the callable CDs and your not at risk of re-investing at much lower rates.