San Francisco (Nov. 7, 2002) -- Investors in variable annuities may want to consider switching from higher cost to lower cost variable annuities, according to a study by the Schwab Center for Investment Research.

In some cases, it may make sense to move from a high-cost variable annuity to a lower-cost product because the Internal Revenue Code allows for the "like-kind" exchange of one annuity or life insurance contract for another, even between different carriers, without any current income tax, according to the study, "How Do You Spell Relief: T-E-N - T-H-I-R-T-Y - F-I-V-E."

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