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