Is A Fixed Indexed Annuity A Good Idea For Seniors? 
That is a great question ! They can be , a great investment , depending upon your financial situation . An agent will do what is called a `` suitability study '' with you to determine whether an annuity is right for you . The suitability study is designed to see if the investment in an annuity is a safe investment for you to make - is it financially safe , will it meet your retirement needs , and does it fall within the tolerable amount of risk that you are comfortable with . Annuities are not very flexible for a period of time when it comes to the money that you invest . There are large fees and penalties , and much damage done to the earnings potential if you need to take back money from your annuity in the first years of the contract . This period is called the `` surrender period '' , and may last as long as 10 years . That makes an annuity something that should be seriously considered only if you have some safeguards in place , and have a good cash flow . That said , if it is a suitable investment , then it can be a terrific one to make . Annuities can guarantee an income that you ca n't outlive , and with our increasing lifespans that is a great thing to have ! There are some really good annuity products out there , and the indexed ones have some great earning potential and guarantees . If there are specific questions that you have , feel free to contact me , I 'm happy to help . Thanks for asking ! 