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My Father-In-Law is in his late 80's and has cashed in all his investments beacuse an Insurance Co. told him to.

Feb 3, 2010

kareneliz
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The told him that if he buys their Annuities his money will be protected if him or his wife ever have to go into a Nursing home. It's driving my wife crazy because we are both are pretty wise investors. Need Facts.
Thanks

Comments (1 to 1 of 1)

MindingOurElders said
Feb 4, 2010

There are some good annuities, but it depends a lot on assets among other things. You'd have to have a financial advisor look into the whole picture before you could tell if this was a good move for him in his particular situation. I can understand your worry. If it's not too late, maybe you can go to a fee only financial advisor who won't benefit either way and have him or her go over the facts.

Good luck,
Carol

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