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Reducing the tax incentives to participate in 401(k) plans – one idea the president and some on Capitol Hill are considering to avert the fiscal cliff – has led some observers to speculate that variable annuities will become more important in 2013 as the best remaining tax-deferred savings vehicle.

But insurance expert Glenn Daily, a variable annuity skeptic, remains firm in his opposition. Asked, in an interview with AdvisorOne, whether the fiscal cliff would increase demand for the much maligned product, the New York-based fee-only advisor refused to speculate, saying, “I don’t know. We’ll have to wait and see.”

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