General Question

elbanditoroso's avatar

Why is the annuity industry so backwards and difficult to work with?

Asked by elbanditoroso (33552points) January 17th, 2022

I can do all my banking and investing online. I can buy car insurance online. I can even buy cars online.

Yet the annuity industry forces you to work through a person (who gets a commission for doing nothing).

Why can’t a consumer research and buy annuities himself without being impeded by humans in the middle?

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6 Answers

Smashley's avatar

Isn’t the comission the point of annuities? I figure that since the law allows commissions on these sales, you will find exaclty zero professionals willing to connect you for free.

Smashley (12573points)“Great Answer” (2points) Flag as…
SnipSnip's avatar

This was asked recently, perhaps by you.

SnipSnip (7157points)“Great Answer” (1points) Flag as…
elbanditoroso's avatar

Sorry if I asked this before.

elbanditoroso (33552points)“Great Answer” (1points) Flag as…
Tropical_Willie's avatar

See my link in answer number one !

Tropical_Willie (31440points)“Great Answer” (1points) Flag as…
gondwanalon's avatar

Annuities are a ripoff. Don’t mix insurance with investing.

gondwanalon (23205points)“Great Answer” (2points) Flag as…

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