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Buying an Annuity
Taxes & Fees
• Mortality and expense (M&E) fees to support insurance guarantees and selling expenses of the annuity contract.
• Administrative fees to maintain the annuity contract.
• Potential surrender charges to help avoid premature withdrawals. Often times these surrender charges can be expensive, but they would be spelled out in the contract.
• Investment management fees, specifically for variable annuity options. Rider fees.
3 Cited Research Articles
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- Annuity FAQ. (n.d.). Retrieved from http://www.retirementegg.com/pages/annuities/annuity-faq.php
- CNN Money. (n.d.). What are the different types of annuities? Retrieved from https://money.cnn.com/retirement/guide/annuities_basics.moneymag/index2.htm?iid=EL
- Williger, M. J. (2004, April 7). FAQ-Annuities. Retrieved from https://www.elderlawanswers.com/