leverage annuity plan is a scam?

Some banks team with insurance companies and sell 4x leverage annuity, like pay 250k for a 1mil plan but borrow 750k from bank. is it stupid to take on this kind of plans?

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u/laverania 1 5 hours ago

Basically is take loan to buy annuity plan, good for the bank and the RM who sell you this.
u/Sufficient-Way-3110 1 5 hours ago

This is only worth if you are a HNW individual as it requires you to pay interest every month and you must have an income of 300k per year or 1m liquid to qualify for it. Its called premium financing where you pay around 28% of the premium while the bank gives you the remaining. At maturity you return the bank what they lent you and you keep the remaining.
u/Agile_Ad6735 1 5 hours ago

https://m.youtube.com/watch?v=TOZqqrMXWCA… I heard interest rise u die