Quote:
Originally Posted by donassaid
You have no idea what you are talking about. The commission NEVER comes off the principal. Try getting the facts before spouting off nonsense. Simple advice. If you don't like annuities, don't buy them. Just quit spreading misinformation.
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You make some good points, and there is some misinformation about annuities. But, most of the misinformation is spread by the people who sell the annuities to make a huge commission. I think it is outrageous that an annuity contract is often more than 150 pages of complicated legalese, and the salesperson will not even provide you with a copy to review before you pay the money and agree to the contract. So, you are at the mercy of the salesperson to get information, which is often slanted, wrong, incomplete, and presented in a way to make the annuity sound like a great investment. Many people, if not most of them, are persuaded to buy an annuity without fully understanding what they are buying.