Variable Annuity Questions

Financial Planning - Financial planning in general. (Moderated) 

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Subject Author Date Variable Annuity Questions FeDude 03-05-2007  Re: Variable Annuity Questions Elle 03-05-2007  Re: Variable Annuity Questions Cal 03-05-2007  Re: Variable Annuity Questions rick++ 03-06-2007
Posted by FeDude on March 5, 2007, 4:51 pm My Mother-in-law recently became a widow (age 75) and when reviewing her situation, I found out she invested most of her savings (~$140K) into variable annuities in Fla. I have an appt to see the guy who sold her these investments because I want to understand her complete financial picture. My personal opinion is that variable annuities were not a good investment for her, but I'll reserve judgment until I find out all the details. I'm trying to compile a list of questions to ask the adviser when I meet with him. I'd appreciate help in compiling this list. Here is my list so far: Official name of the fund Fund symbol Number of shares Current value Annuity? - Fixed or Variable? - Death Benefit? Insurance component? - How much? - Current Beneficiary Redemption penalties (if any) Ongoing fees Beneficiary in the event owner dies Posted by Elle on March 5, 2007, 5:13 pm > My Mother-in-law recently became a widow (age 75) and when > reviewing > her situation, I found out she invested most of her > savings (~$140K) > into variable annuities in Fla. I have an appt to see the > guy who sold > her these investments because I want to understand her > complete > financial picture. She'll be with you at the appointment, right? Or is the guy just going to hand you her personal info without batting an eyelash? Posted by Cal on March 5, 2007, 5:57 pm > My Mother-in-law recently became a widow (age 75) and when reviewing > her situation, I found out she invested most of her savings (~$140K) > into variable annuities in Fla. I have an appt to see the guy who sold > her these investments because I want to understand her complete > financial picture. My personal opinion is that variable annuities were > not a good investment for her, but I'll reserve judgment until I find > out all the details. > > I'm trying to compile a list of questions to ask the adviser when I > meet with him. I'd appreciate help in compiling this list. Here is my > list so far: > > Official name of the fund > Fund symbol > Number of shares > Current value > Annuity? > - Fixed or Variable? > - Death Benefit? > Insurance component? > - How much? > - Current Beneficiary > Redemption penalties (if any) > Ongoing fees > Beneficiary in the event owner dies > You have it about covered. However, I do believe that it will be necessary for her to be at the meeting to approve the Agent providing personal information to you. Cal Posted by rick++ on March 6, 2007, 7:36 pm If its really recent, I believe there is a 21-day no-penalty cancellation window. At least the one I bought had that. Similar Threads Posted variable annuity inside 401k December 19, 2006, 5:31 am Roth 401K versus variable annuity January 11, 2007, 9:24 am Variable Annuities October 12, 2006, 5:01 am Variable annuities not so bad? October 22, 2008, 8:14 pm Variable Annutieis: The truth? December 5, 2006, 5:00 am Guarantees In Variable Annuities? July 9, 2008, 4:06 pm variable annuities in an IRA (tiaa-cref) January 3, 2007, 12:13 pm How important is a Variable Annuitys Insurance Company Rating August 9, 2007, 6:06 pm tax questions February 23, 2007, 4:50 pm 2 beginner questions on CDs January 18, 2007, 1:57 pm