Mother signed up for an annuity, how do I get her out of it?

[Flint]

I found out earlier this week my mother signed up for an annuity at her bank. She was talked into it by someone there, and told me how great it was. I let her know the facts, that they are terrible places to put your most, high costs and fees and it almost never makes sense to have one especially if you're older.

Are there any legal loopholes this early on (less than month) we can use to get her money back?

 

[Frugal Wallet]

ASAP call the person who sold them the annuity and say you are immediately exercising the free look provision required by law. Don't wait a day, time is very limited. They will try to give excuses because they stand to lose a very big commission, but insist. Show up that day too, with your mother, even if you have to take time from work.

 

[Climbing Out]

Let us know how it goes, I hate hearing it when seniors get taken advantage of!

 

[Tera]

ASAP call the person who sold them the annuity and say you are immediately exercising the free look provision required by law. Don't wait a day, time is very limited. They will try to give excuses because they stand to lose a very big commission, but insist. Show up that day too, with your mother, even if you have to take time from work.

I read this as well. I had to look up something for a friend on the same issue. If you wait too long, you get screwed.

 

[Lisa]

Did she ever get out of this?

My aunt is in a simular situation and I am trying to help her out.