No-load annuities are annuity products where investors are not charged commission fees because the investor controls the account. During this tough economic climate there is an increased interest in these no load annuities. Annuity FYI has added a section on these no-load variable annuities to the Compare Annuities section on its website explaining the product and listing the most competitive options out there for investors. No-load variable annuities are usually sold to investors directly but can sometimes be purchased through brokers as well. There are some fees associated with the product, but those fees are significantly less than load annuities and some load annuity fees are nonexistent with the no-load annuities.
One benefit that investors really like about no-load annuities is that they do not have surrender charges if you need to withdraw some money unexpectedly. Of course you can still have penalties associated with the age you withdraw and tax gains. The best no-load annuities have the same Guaranteed Income Benefit and Death Benefit options as loaded annuities. One of Annuity FYI’s favorite products right now is Ohio National’s ONcore Wrap No Load Annuity. It has both of those riders included. No-load annuities are not right for every investor. Since you are not paying commission to a broker, you are not getting the one on one advice and support associated with loaded annuities. The products are best for investors that know how to monitor their own annuities and choose to do that in order to lower fees.
