An annuity is an insurance product that provides a guaranteed income stream, either for a set period or for life. You pay a lump sum or series of premiums to an insurance company, and in return, you receive regular payments. Annuities are often referred to as a “personal pension” but unlike traditional pensions, annuities offer more flexibility, giving you control over how your retirement income is structured.

A commission-free annuity is an annuity that does not have upfront sales commissions in the pricing. These products are not sold through the traditional commissioned sales model (a sales person sells the product and gets paid a commission for making the sale). This modern design can significantly reduce product costs, potentially improve benefits, and remove any potential conflict of interest created by the sales incentive.

Traditional, commissioned annuities include fees paid to the sales person for selling the product. These sales commissions can be very large and can increase overall product costs for the purchaser. Commission-free annuities, on the other hand, do not include these traditional sales commissions in the pricing. This means product costs are typically lower and other benefits may be enhanced, like higher income payout rates and no surrender charges.

Fiduciary advisors are legally obligated to act in their clients’  best interest. These advisors earn money by providing financial advice rather than by selling products. By using commission-free products, they are able to provide solutions based purely on your needs, without any potential conflict of interest created by a sales commission. This approach ensures transparent, conflict-free advice that focuses on your long-term financial goals.

Commission-free annuities offer several key benefits for retirement planning:

• Guaranteed income: A predictable stream of income during retirement
• Principal protection: Complete or partial protection of your initial investment from loss due to market volatility
• Tax-deferred growth: Earnings grow tax-deferred until you begin taking withdrawals, allowing your money to compound over time

DPL Financial Partners works with leading insurance carriers to bring commission-free annuities and insurance products to market for financial advisors and consumers. By eliminating sales commissions and repricing products, it's possible to lower fees and often improve benefits, like increased income payout rates and no surrender charges.

With Avenew, it's easy to find a commission-free product that meets a goal for guaranteed income, principal protection or protected growth to determine if an annuity makes sense in your financial plan.

A 1035 exchange is an IRS provision that allows for a tax-free transfer from one annuity policy to another. This gives you flexibility in reviewing and choosing an annuity solution that best aligns with your financial goals while keeping your money growing in a tax-deferred vehicle with protection.

Most exchanges take a few weeks to complete. The exact timing depends on the insurance companies involved, but the goal is a smooth transition, so your income guarantees and investment growth remain uninterrupted.

Investors often use a 1035 exchange to exchange a product they currently own with another product that offers features better aligned with their goals, like higher guaranteed income payouts, improved investment options, or lower fees. It’s a strategic move to optimize retirement planning while keeping your money in a product with tax-deferral.

Whether or not you can exchange your current annuity without incurring charges will depend on your annuity's surrender schedule. With Avenew, you can run a detailed comparison of your current annuity to a commission-free annuity and see if the exchange makes financial sense.  If the comparison indicates your current annuity is still in surrender and there would be penalty charges associated with the exchange, we will tell you.

Long-term care (LTC) coverage helps protect your retirement assets from the high costs of future care needs. By including LTC in your financial plan, you can maintain income stability, safeguard your principal, and have the flexibility to choose where and how you receive care — without putting strain on your family or portfolio.

Your income and protection needs are impacted by your lifestyle, retirement goals, and other income sources. Through Avenew, you can discover how much guaranteed income you may need to cover essential expenses and find an annuity that efficiently meets that income goal.

Yes. Some annuities offer long-term care benefits or enhanced payout options that offer more income to help offset personal care costs. This helps you cover essential expenses with guaranteed income while maintaining principal protection and tax-deferred growth, ensuring your assets continue to work for you even if your needs change.

Yes. Through Avenew, investors can independently explore and purchase commission-free annuities. The platform gives enables you to find and compare annuities to meet a goal for guaranteed income, principal protection, and tax-deferred growth, and apply for products directly online.

If you already work with a financial advisor, they can access Avenew to help you evaluate solutions and integrate them into your broader financial plan. DPL partners with thousands of fiduciary advisors who use our products and tools to provide low-cost, commission-free retirement solutions to clients. They use the same tools available to your through Avenew.

Yes. If you are interested in working with a fee-based, fiduciary advisor, DPL can connect you with advisors in our network. We work with thousands of financial advisors across the country who are committed to serving clients' best interests with fiduciary advice and financial planning solutions.

Once you click “Apply Now”, you will register for the platform, fill out the application form, and a DPL consultant will reach out to you within a few business days.