Regardless of whether an annuity is fixed, variable, or indexed, a fatal flaw for seniors of modest means is the fact that annuities lock up most of an investors money for a period of time, perhaps as long as a decade, which might be longer than some seniors expect to live.  If an emergency arises that requires the annuity funds, such as medical expenses due to a heart attack, broken hip, or cancer, seniors may pay stiff surrender penalties to access their funds.  This reality, along with the high sales commissions, make annuities unsuitable for many Seniors.

If you have questions about annuities, please feel free to give us a call at 1-800-306-6010 or contact us online.