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Posted by Todd on October 21, 2003 at 20:15:48:

In Reply to: variable annuities posted by melgiljua on October 19, 2003 at 11:23:33:

Without knowning any further information, it's my opinion that an 80 year-old should NEVER buy a VA. In fact, variable products are typically not suitable for people anyone who is retired. Period.

Retirees need stable/fixed income products. However, I will say this...IF the 80 year-old doesn't need the money to live on and this VA would just be an investment to leave the money to his/her heirs, there are MUCH better ways to go about it! If you have someone that's trying to sell you a VA for your 80 year-old spouse, partner, grand parent, etc... you might want to consider contacting the SEC and the State's Dept. of Insurance and reporting that individual for unsuitable sales.


: Are variable annuities a smart investment for an 80-year-old? What things should she or her heirs be aware of to ask before investing?



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