Experts share advice

Annuities can be useful tools. But I dont recommend them, for the most part, especially for senior investors. These are the two annuities seniors should avoid at all costs:Variable life contracts Equity indexed or fixed annuitiesHere is why:They are complicated and confusing. They often come with nose-bleed fees and surrender charges usually built into the early contract years. They are meant for long-term investors -- sometimes up to 15 years -- meaning not for seniors.