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types of investments with built-in puts or similar safety features
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an index annuity is almost the same as indexed universal life, except the equity-index annuity is an investment with a guaranteed minimum return, with sometimes a higher return that is a function of the gain in the stock market, but is not associated with a life insurance policy.  after a time, you can convert the eia to a lifetime income (the annuity part) or just cash it out.  they often are very complicated, but are constructed by combining bonds with index options (puts) just like indexed universal life. unfortunately these tend to have high fees and/or commissions, and high (early) surrender charges, which can make them a poor investment.  of course you could just "roll your own" by buying bonds and puts finras bulletin on eias, pdf warning. here's a description of one of these securities: pdf.
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