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Do QLACs have high commissions like some of the other Annuity products?

QLACs have lower commissions than many other annuity investment products.

Qualified Longevity Annuity Contracts (QLACs), like other deferred income annuities (DIAs) pay a one-time commission to the selling agent that varies from 1% to 5% of the premium investment. The amount of the compensation depends on the carrier, on the age of the purchaser and other factors. When you obtain a QLAC quote, the quote you will receive is what the insurance company will pay you over your remaining lifetime after the QLAC benefits start. You should feel free to ask your agent how much compensation he/she is receiving in the transaction, but the most important number to focus on is the monthly payout amount offered by the different carriers quoting. We recommend using an online broker to easily comparison shop and make sure you get the best deal on a QLAC purchase. For more on this, see our blog piece, "How to buy a QLAC." Link to Article

Ron Ryan

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Updated on Mon, 14 Aug 2017

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