Literally rolling my eyes at the entire section on annuity fees in this piece. Don’t get me started.
August 23, 2023 by Sheryl J. Moore
I wonder- wouldn’t one be compelled to speak to an insurance professional, when writing about life insurance and/or annuities?
Click HERE to view “Should you Buy an Annuity?” via Forbes.
It doesn’t always happen.
And while a “zero-coupon bond offers a similar tax deferral [to an annuity] but is taxed at capital gain rates,” it cannot offer a guaranteed paycheck for life. Nothing but an annuity can. That includes stocks, bonds, and ETFs.
Literally rolling my eyes at the entire section on annuity fees in this piece. Don’t get me started.
“The commission on the sale of an annuity is often 8%. This is amongst the highest in the industry.”
Sorry- not true. Even if I assumed that variable annuities average 7% commission, the typical deferred annuity street level compensation is only 5.33%.
This is “amongst the highest in the industry,” relative to what? Relative to the 10% in AUM that one would collect, over a ten-year period, when an annuity salesperson would make 5.33%?
How ironic. This article said it best, when declaring that “Getting honest information about annuities can be tough.” No lie. This article certainly isn’t a good example of providing honest information about annuities. The weird closing about life insurance just made me roll my eyes even more. -sjm