A variable annuity blends market growth with insurance — but its ~1.25% M&E fee, surrender charges, and 10% early-withdrawal penalty hide the real cost.

Fixed annuity rates look attractive right now, but the real cost of a MYGA shows up if you cash out before 59½. Here’s how they actually work.

The types of annuities aren’t interchangeable: fixed locks a rate, variable rides the market, indexed caps gains behind a 0% floor. Here’s which fits.

How annuities work comes down to two phases and their cost. The honest version: payouts, the 10% penalty before 59½, and the fees that erode returns.

Is an annuity worth it? The answer is in the fees — near zero on a fixed annuity, over 3% a year on a variable one. Here’s how to decide.