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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 ...