No-Load Annuity

Definition

• A variable annuity product that is sold with low fees and expenses, often directly from an issuing insurance company. No-load annuities do not provide the salesperson a commission. Offered with little in the way of customer service, no-load annuities are not recommended for investors inexperienced in annuities or those without knowledge on how to properly allocate assets among subaccounts on their own.

Synonyms
no commission annuity

Related Terms and Acronyms

• Commission (comm) — Abbreviation,
  • A fee paid to a salesperson for selling a product to a customer.
  • An agent's fee for negotiating a real estate or mortgage loan transaction, often expressed as a percentage of the selling price.
• Finder Fee — Definition,
  • A fee paid by a party to another for services rendered.