That is the most horrible idea I have seen this week!! Please don’t do that. You will make some annuity salesman rich!!
You need to do a direct ROLLOVER to an IRA — either Fidelity or Vanguard can do that. Then you needto make some conservative investment choices –a balanced fund, an equity-income fund, and perhaps a bit in a gold shares fund.
If you can’t do it yourself, don’t fall into the hands of a salesperson who only has his or her best interests at heart. There is a link in one of the little blue boxes,top right corner of my website, to Wealthramp — the matching service for FEE-ONLY, FIDUCIARY financial planners. You can trust them. This is the time to have at least one free overview meeting.