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Annuities may come with more perceptions than any other financial product. But how many of those perceptions are reality?

One commonly held perception is that annuities are too confusing and complex for most people. But what’s the reality? It all comes down to education. If you do your homework and work with a financial services professional, you can better determine if an annuity is right for your financial strategy.

Here’s another perception about annuities: The contract owner ends up paying the commission. In reality, the insurance company generally pays the commission to the insurance agent.* However, it’s important to remember that other costs are associated with these products.

Although these are just a couple of examples, you should gather as much information as you can before you make any decisions about annuities. Don’t leave the retirement you’ve worked so hard for up to chance!


Annuities are long-term insurance products primarily designed for retirement income. Any distributions may be subject to ordinary income tax and, if taken prior to age 59½, an additional 10% federal tax. Early withdrawals may result in loss of principal and credited interest due to surrender charges. Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company.