Defined terms for the annuity market and lifetime income landscape.
A broker, in the annuity context, is a licensed intermediary who represents the prospective buyer rather than a specific insurance carrier and is generally authorized to sell annuity contracts from multiple carriers, with compensation typically received as a commission paid by the carrier whose product is sold. Why it matters The broker is one of the principal distribution channels through which annuity contracts reach buyers in the US market. The structural distinction between a
