I was declined for term insurance, do you think an annuity would be a better choice? I am an old man and retired.

Quote from Boyd99 on 04/14/08 at 13:45:48:

 
What do you want to accomplish? You mentioned you were declined on term insurance (I'm assuming because of your age/health) correct? I'm assuming you wanted to provide protection for your loved ones, incase you were to die yesterday. Now, you asked about annuities. Annuities are designed primarily to have some money accumulated, or to have some fixed stream of income for retirement or whatever the need might be while you're still alive. My question to you, are you looking to get protection, incase you were to die, your family will receive the benefit. or you're looking to invest money, and draw on it while you still living.
 
When setting up an annuity, you're not required to undergo medical, unlike life insurance. I would recommend determining your risk profile before investing. You can do iy yourself on the web, or consult with your financial adviser. Once you determine your risk profile, you may choose between Annuities, CD, or try looking into a new different life insurance company that has fewer restrictions when it comes to age/health
 
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