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Annuity fees you must avoidSummaryIn this 0:30 Annuities Explained YouTube Short, Jeffrey Scott McLeod, LUTC, covers “Annuity fees you must avoid.” Get the NIC buyer guide prepared by the National Association of Insurance Commissioners before you buy an annuity. A contract fee, a transaction fee, a percentage of premium charge fee. Fees and charges reduce the value of your annuity. They help the help cover the insurers's cost to sell and manage the annuity and pay benefits Insurance education only—not securities advice. Key takeaways
From the NAIC Buyer’s GuideDeferred annuities differ by how you pay premiums—such as single premium, flexible premium, or other patterns described in the contract—and by fees and charges. The 2022 NAIC Buyer’s Guide for Deferred Annuities explains that an annuity is a contract with an insurance company. With an annuity, the insurer promises to pay income on a regular basis for a period you choose—including the rest of your life. Fees, surrender charges, and any market value adjustment can reduce what you receive. Read the contract for how charges work in your state. Source: NAIC Buyer’s Guide for Deferred Annuities (2022). The guide does not endorse any company or policy. For your state insurance department, see www.naic.org. Questions about fixed index annuities? Call or text 501-658-9882 · Book a time on the calendar Insurance-only disclaimer Jeffrey Scott McLeod, LUTC, is a licensed insurance producer. Content on this page is educational and discusses insurance products only—not securities, brokerage, or investment advisory services. Texas license 901162. Arkansas / National Producer Number 558629. Product availability, rates, and features vary by state and insurer. Read the NAIC Buyer’s Guide and the insurance contract before you buy. More videos |
Jeffrey Scott McLeod, LUTC — Licensed insurance producer. Texas license 901162. Arkansas / National Producer Number 558629. Insurance products only; not securities or investment advisory services.
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