Ask Terry Questions Annuities & a catastrophically disabled senior

Annuities & a catastrophically disabled senior

By Terry Savage on August 25, 2013 | Investments

Terry, I wrote once before about annuities. My parents put all their eggs in annuities at a late age; my dad been officially diagnosed by the VA as catastrophically disabled. He is 84. I cannot believe that there isn’t some way to free up that money without penalizing my dad. It seems so cold and heartless and cruel on the part of the annuity companies. Do you think we have any recourse? We tried writing to them only to be denied. It is heart breaking.

SAVAGE SAYS 😕 Please write back directly to my email — Tell me everything you can about the annuity purchase:? the name of the company, and the product, and the contract # — and when it was purchased, and who was the salesperson (and contact info) and who you wrote to. And give me your phone number. If you do it this week — before Labor Day — I will try to set some wheels in motion. But I will be away for two weeks after that, and will certainly contact you when I get back — I agree, this is horrible!



a personal
finance question