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My 72yr old mother in law (in good health)  has a 7yr fixed annuity that is coming due soon.  She invested 50k and it is now worth 60k.  She is being told that if she rolls it into another 7yr  annuity she will not have to pay fees and taxes yet.  (the surrender value shows $487.00)
She is not comfortable with having a long term investment that is not FDIC insured.  She's definitely on the 'nervous' side of all this investing 'stuff'.  Is this correct that these are not FDIC insured?  She does not like having the money 'tied up' even tho it is unlikely she would want to use it other than an emergency. 
Are there other 'safe/low risk' investments that may work better for her?  If it helps/matters, she has an annual fixed income of $22,800 and owns her home.
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