See http://janebryantquinn.com/2010/09/have-an-annuity-with-lifetime-income-guarantees-dont-give-it-up/ I have written negatively about
equity -
indexed annuities (which the industry likes to call «fixed
annuities,» even though they aren't fixed), due to lack of disclosure, hidden fees and, yes, abusive sales, as several lawsuits by attorneys general can attest.