"The insurance company pays them" = literally a commission.I have had advisors try to sell me annuities. They all say they are not paid a commission for the annuity, the insurance company pays them. They always leave out that the commission payment the advisor gets is wrapped up as part of cost of the annuity. The second thing they have all said is that there is "no fee". To which I laugh, because how else are the insurance companies making money? I always tell them how about we just called it "internal charges".
Ask your advisor if there is a commission. He should be offering you no-commission annuities that are only available for advisors. Otherwise you may be being double charged and you might want to reconsider your relationship with the sales agent.
Note that insurance sales people often call themselves advisors. A true fee-only advisor will not sell you commissioned products.
Statistics: Posted by Harmanic — Sat Nov 08, 2025 9:56 pm — Replies 10 — Views 827