Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
50% - Moderately

No-Load Annuity

Synonyms:no commission annuity
Filed Under: annuities, estate-management, financial-banking, investments
Tags: annuity, banking, investment, life insurance

Definition of no-load annuity

no-load annuity
1. 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.

Related Terms and Acronyms:

  • commission (comm)   A fee paid to a salesperson for selling a product to a customer.
  • finder fee   A fee paid by a party to another for services rendered.

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