Indexed Annuity for young person???

I am working with a new young couple, ages 40 & 37. It is a new relationship and I am in the data gathering phase and the wife showed me a report, not a statement, for her retirement plan in an indexed annuity issued when she was age 34.

I do think an indexed annuity may be right for some risk adverse clients, BUT at age 34????

I do not know all details yet but they are paying a 1% fee for a “Rate Booster”. I need to find out the surrender period, how the crediting works, etc. From what I have I can’t even see her initial investment to know how much she may have earned. And it is not a standard index which will be hard to track.

I am skeptical I would have been able to justify this transaction had I been the writing agent.