A 76 year-old relative was just enticed to take $100,000 of his savings and "invest" it in a 5-year deferred annuity. He was dissuaded from putting it in a 3, 4 or 5 year CD paying between 3.9 and 4,25%. The annuity pays 5%.I am trying to convince him to back out of the transaction. What ar some good arguments that I can use?BTW, the insurance company is GE Financial. Thanx.
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