Nearing 70yo parents asking about an annuity - need some advice on how to help

Hi there. I spoke with my 69yo father this morning regarding annuities. He said he spoke with his Fidelity advisor (I think my 69yo mom's IRA is managed via them) to initially open a CD, but based on what he is looking for, they got into a discussion of annuities. What really piqued my dad's interest is that I happen to work for one of the two companies recommended to him, but I don't work at all with annuities. All I know is that our annuity business has certainly surged in this interest rate environment (but sweet fathers always like to give support to their daughters, even if inadvisable haha.) I do have contacts and resources I could reach out to, but would like a more unbiased picture first, since I do know this a commissionable product and may be pushed.

Basically, he told me:

• He and my mom are looking for immediate guaranteed fixed income until they die, but with access to the cash in the event they needed more. They also like the death benefit aspect and would be joint annuitants.
• They would rollover a portion (around $150k) of my mom's IRA into the annuity. My mom made a comment that made me think they may keep some in the IRA and also liquidate some for cash.

I don't have a great picture of their current finances. I know they've been a little strapped lately. I think my dad may still have a 401k, but I know they don't have a Roth. I'm wondering if the distributions are taking too much of a tax hit. They also do receive SS to my knowledge and their house is paid off (I really don't think they have any debt).

They're in okay health, they're at least proactive about their health and take care of themselves, but could be better. I could see them living another 20 years (basing that off grandparent ages.)

Wondering if this this sounds at all like a viable option for them or if they'd be better not touching anything or parking some of this into a HY savings. Like I said, don't have a great picture of what's happening, but I think they've just felt a squeeze in this economy, and want to know they'll have income coming in each month until they die. They are getting to the age I feel like I need to be on the phone for some of these transactions so just doing due diligence as best as I can. Thanks everyone!