The FDIC has announced a settlement with a company running ads for above-market CD rates in 80 newspapers nationwide.

AmeriLife First Financial LLC reportedly used the high CD rates as a lure to get people in to buy annuities or other investments.

However, those who stood their ground and held out for the advertised CD rates got what they wanted. AmeriLife would pay a bank in cash to issue the CD at the advertised rate.

What a business model! Apparently the loss they took on the CD rates was outweighed by the gain of the sales commissions made on annuities.

Interestingly, AmeriLife put out a press release disputing the FDIC's findings.

The message here for you is be careful anytime someone promises you what exceeds what you can safely earn on a CD.

And remember, it almost never makes sense to buy an annuity. The only kind of annuity that Clark recommends if you're looking to not outlive your money is an immediate payout or life annuity. But you'll rarely hear about this option from salespeople because the commissions on it are so low.