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[quote=Anonymous]Mom is often preyed upon by others.  She is 69 years old and has about $1 million in a retirement account.  She has social security, her own health insurance, long term health insurance, a few worthless properties, but not much else.  My mom wants to be able to give some money to her daughters when she dies (one daughter has special needs kids). An insurance agent that she doesn't know and has not checked out is trying to sell her an annuity (she went to a dinner he held at some restaurant).  Mom's CPA listened to his pitch.  His first "plan" left nothing for her children, so she dismissed it out-of-hand.  Apparently, the revised plan does.  Mom's CPA states that "she doesn't like annuities."   Mom is unable to explain the plan, and she doesn't understand it.  The guy has pointed to the volatility in the stock market as a reason she should move her money.

The back up "illustration" that he provided her with states:  "a total value annuity is a flexible premium deferred fixed index annuity with a Bonus, Surrender Charge, Bonus Recapture and, in most states a market value adjustment (MVA).  The Surrender charge, bonus recapture and if applicable, MVA, apply for 10 contract years.  
She can select amount 4 different types of accounts (Fixed, S&P, transparent value blended, and the annuity linked TVI index.

The insurance agent told her that he would give her a 10 percent bonus to add to the account and payout would begin after 3 years.  
Can you help me - or is there just not enough info to advise me?[/quote]

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