What should I be ready for when managing my mother's annuities as she gets older?

Ten years ago when my mother was 73 years old, she was convinced by an insurance annuity broker to empty her $300,000 worth of CDs into four annuities. According to the broker, her annual interest rate would be fixed at 3%. My mother lives off of her social security and the distributions from these accounts (~$300/month). This arrangement appears to be working for her. She only takes money out of these annuities when she needs to have work done on her house. The total value of all of her accounts tend to hover right at their initial value of $300,000. I am my mother's Power of Attorney, and recently wrote her broker to ask what fees were taken annually from my mother's accounts. His answer was that there were no fees. This concerned me. They have all reached their surrender dates, but my mother doesn't want to do anything different with her money. Should I be concerned about her broker stating that there were no fees? As my mother gets older, are there any other issues that might turn up with regard to these annuities? What should I be ready for?

Personal Finance, Annuities, End of Life
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August 2017
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These sound like fixed annuities which are not securities but purely insurance contracts and the broker most likely is an insurance agent.  In a way he is telling the truth.  The fees are built into the interest rates they pay the annuity holder.  Just like a bank's CD rates.  The bank makes loans at 4% and pays 1% on CD's the spread is what the bank works on and could loosely be considered the fee.  A fixed annuity is the same way, the insurance company is paying 3% to your mother but they are using her money to invest at 5% or 6%.  

Variable annuities are security contracts and come under securities laws and insruance laws.  They have fees deducted from the investment accounts and those are disclosed.  Variablie annuities are invested in "outside" funds not owned or operated by the insurance company.  Fixed annuities are totally invested with the insurance company.

If the 3% is adequate and is guaranteed there isn't much to do.  Be aware that at your mother's death the money will pass directly to the beneficiary of the annuity contract and will not go through her will.  You may want to check who the beneficiaries are and if that is still what your monther wants.  Also check when the annuitization dates are for the contracts.  This is a maturity date that upon reaching the insurance company will annuitize the balance (pay monthly lifetime payments and keep all of the principle)  make sure the contracts do not annuitize.

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