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Would you buy this SPDA?

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  • Would you buy this SPDA?

    Thanks for any thoughts-Was sold a variable life policy in 1993 at age 37. Paid premiums for about 10 years-a total of 150,000. Have had 3 million of life insurance since. Account now has balance of 160,000 and I no longer need the policy.

    Based on prior thread re: worst whole life policy, I asked my advisor if I could convert it into a SPDA.

    he didn't suggest it first) He advised a Guggenheim Preserve mutiyear annuity.

    I am 61 and planning on retiring or cutting drastically back at 65. Would use the annuity in about 10 years.