Phillip Cannella Media: Phil Cannella Says Stay Away from Variable Annuities

Phil Cannella – Phillip Cannella Media: Phil Cannella has done some exhaustive research on the various types of annuities available on the market and looked at their pros and cons. While many insurance companies offer various kinds with varying benefits and features, there are just a few major types of annuity. Of these, Phil Cannella urges the consumer to stay away from the variable annuity.

As Phil Cannella puts it, there’s one type of annuity in particular that gives the others a bad name, and that’s the infamous variable annuity.  Its management fees are higher.  It imposes more expenses on owners.  And it’s riskier.  In fact, a variable annuity is classified as a security because at its heart it is a collection of mutual fund subaccounts.  An insurance company then wraps itself around these mutual fund subaccounts and offers insurance annuity features.

Phil Cannella goes on to explain that that all mutual funds have fees because they have fund management costs and expense ratios that must be satisfied.  So, if you’re invested in these subaccounts through a variable annuity, you’ll have to pay the ongoing fees.  Every year, you can expect to pay anywhere from 1¼% to as high as 2½%, and this is just the beginning!

In Phil Cannella’s crash proof retirement system, no variable annuities are ever utilized.


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  • Phil Cannella

    Phil Cannella – Champion of Consumer Advocacy
    With the uncertainty and volatility of the market, Phil Cannella, with First Senior Financial Group, prides himself on ensuring a safe retirement future for senior consumers. With an unparalleled devotion to educating seniors, Phil Cannella works endlessly to know and understand the ever changing tax laws and economic changes that can adversely affect one’s nest egg. Thousands of senior citizens have gone through First Senior Financial Group’s education process and learned how to have up to an 85% tax free retirement income.
    As if that isn’t reason enough to respect Phil Cannella, the truly amazing thing about how he runs First Senior Financial Group is that he never takes a dime from the seniors who come to him to be educated. Everything he teaches and everything he offers comes free of charge. That is the true mark of a consumer advocate, someone who cares enough to help you without asking for anything in return.

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