Your Money: Sep. 7, 1998

ANNUITIES ALIVE AND WELL

No wonder that insurance giant AIG recently bought variable-annuity titan SunAmerica. For some reason, consumers are buying record numbers of these instruments, which are essentially tax-deferred mutual funds wrapped around life insurance. Annuities usually carry high fees and taxes. Our advice: stick to options like 401(k)s and IRAs.

FIRST-CLASS MEDICAL CARE

If the thought of getting laid up in a hospital in Karachi makes you feel queasy, MedJet Assistance may be just the cure. In the unlikely event you're involved in a serious accident while traveling either at home or abroad, this newfangled Birmingham, Ala., "membership program" ($150 to $225 a year) will fly you to any hospital anywhere in a fully medically equipped LearJet. Just don't make a habit of it; the policy allows a maximum of two of these luxury flights per customer.

WHAT ARE THEY THINKING?

Kids taking a laptop to college apparently aren't making the best use of their parents' investment. Only a small fraction of the high school class of 1998 is thinking of a career in the lucrative field of computer science, preferring business, education and health services. With a shortage of qualified computer workers for jobs that are expected to double in number by 2006, students would be wise to log on and make the grade.

--By Daniel Eisenberg and Kathleen Adams