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Subject:  Re: ??? about annuities - Warning: long Date:  2/21/2011  1:18 AM
Author:  op456op Number:  68515 of 78168

Ask him to talk to Vanguard as you first suggested before going with any of the others he's talked to in order to compare. Advise him you've heard nothing but horror stories of hidden fees and of "guaranteed returns" that... aren't (see bold type below).

Reinforce the integrity of Vanguard and tell him he'll get the advice that is best for HIM.

Tell him that he has this backwards: AARP has been advertising one with NY Life NY Life has advertising one through AARP and AARP is getting a fee from NY Life to do so. From their ad in AARP Bulletin:

AARP has established the AARP Annuity Trust to hold group annuity contracts for the benefit of AARP members. AARP Lifetime Income Program products are provided by New York Life Insurance and Annuity Corporation (NYLIAC), not by AARP or its affiliates. Please contact NYLIAC directly for product details, including any limitations and exclusions. NYLIAC pays a royalty fee to AARP for the use of AARP's intellectual property. These fees are used for the general purposes of AARP.

The AARP Lifetime Income Program is underwritten by New York Life Insurance and Annuity Corporation (NYLIAC), a Delaware Corporation (NAIC #91596), Newark, DE 19713. AARP membership is required for Program eligibili