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How MasterDex Mastered the EIA Market: Allianz Life Mixes Controversial Formula for Success.

Annuity Market News

| March 01, 2007 | Pechter, Kerry | COPYRIGHT 2007 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

America has a love-hate relationship with annuities, and that seems to go double for the MasterDex suite of equity-indexed annuities from Allianz Life of Minneapolis.

The three MasterDex annuities, especially the MasterDex 5 and MasterDex 10 bonus annuities, have been the top-selling EIAs in the U.S. for nine consecutive quarters, accounting for an estimated 30% share of a $90 billion market.

Yet few annuity products are more frequently criticized. The "two-tiered" MasterDex 10, in particular, has been disparaged in news articles and on financial blogs. State and federal lawsuits characterize it as a vehicle for fraud and unsuitable sales. It has been ...

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