Bates & Company, Inc.
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Loan & Distribution Specialist AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Regional Vice President of Sales The Retirement Plan Company
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AimPoint Pension
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Compass
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Annuityville Horror Stories
MarketWatch [Opinion] Aug. 21, 2013 "The average annual fee on a load variable annuity (including riders) is typically around 3%. But with the 'oversight' fee added to the 3.9% policy charge, Hank's annual fees on the total asset amount was 5%, which adds up to a whopping $51,000 per year.... To surrender the policy in full would cost Hank over $80,000. Because of the high surrender charges, there is really nothing Hank can do except take out 10% of his money via the penalty free withdrawal clause, not the happiest of options. You can't make this kind of horror up." |
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