secure term choice fixed annuity from mb financial investments.

an mb financial rep recently recommended a fixed annuity called secure term choice fixed annuity II. Since i know nothing about fixed annuities, i would like to know where to start to determine if this is something i should consider. my other investments include cd’s and a small amount of stock.

Terry Says:  With a fixed annuity you lock your money up (subject to surrender charges) at a fixed rate for probably 5 years.  If you need the money before then you won’t get it all back because of those surrender charges.  In the mean time, you are stuck with a rate for 5 years, which may look better than bank CDs now, but could be unpleasant if interest rates rise.  The “rep” gets a commission on your purchase.  What do you think now?