John Milone is a big fan of equity-indexed annuities and CDs. He's been selling equity-indexed annuities (EIAs) for more than a decade to his clients at Charlotte State Banc Investor Services in Port Charlotte, Fla., and more recently has been adding equity-linked CDs. "The people who have those products in their portfolios are my happiest clients," because they don't have to worry about losing money, he asserts proudly, "I sleep better too!"

Both equity-linked products had a good run in 2009-2010, as the S&P rose by 86% from March 9, 2009 to Jan. 1, 2011. Lately though, with a more volatile market and low bond rates, they are a harder sell.

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