What Are the Average Costs and Fees Associated With an Annuity?

Chris-Magnussen-21-What are the average costs and fees associated with an annuity

Christopher Magnussen explains that annuity costs vary by type, with products like fixed and immediate annuities typically carrying no fees, while other types may involve additional costs.
Video Transcript
I'm often asked, you know, what is the average cost or fee associated with an annuity? And it really can depend on different factors, but more than anything, the type of annuity that you're looking at. So if you're looking at a fixed annuity similar to a CD referred to as a MYGA, those have no fees. Those have no cost involved, right? Same exact thing is seen with an immediate annuity that is really more an educated guess on the part of the insurance company by looking at mortality tables and your gender what your expected lifetime is going to be.