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