Annuities and Older Adults

Is it appropriate for an older adult to purchase an annuity? 

An important part of H.E.L.P.'s work is helping people plan ahead, to maintain control of their care and finances. In doing our work, we often discuss the financial steps people have taken. All too frequently in these discussions, we find that older adults have been sold annuities in what appear to be very inappropriate circumstances. We’re very concerned that people are not being told in a clear way about all aspects of the annuities they are being offered. 

To help older adults and families make better decisions about annuities, we have

• created a new site called annuitytruth.org and 
• posted on that site our new seven-part Special Report: Annuities and Older Adults.

The site and Special Report p rovide information about annuity basics, warnings from financial writers and regulators, the truth about certain alleged benefits of annuities, our list of stinky annuity sales situations, and more.

Posted July 6, 2002

The Special Report is part of our Summer 2002 Newsletter.

Already Purchased an Unsuitable Annuity? Go to the annuitytruth.org site for information on who to complain to.

To request that we mail you a printed copy of our "Special Report: Annuities and Older Adults" click here.

Also on the H.E.L.P. site:

Shopping for Insurance

Watch Out for Planning - Investment Trickery