the fifty states are members of a national umbrella association, the National Organization of Life and Health Insurance Guaranty Associations (NOLHGA). The NOLHGA website provides a description of the organization, links to websites for the individual state organizations, and links to the actual text of the governing state laws. A difference between guaranty association protection and the protection of bank accounts by the FDIC, credit union accounts by the NCUA, and brokerage accounts by the SIPC, is that it is difficult for consumers to learn about this protection. Usually, state law prohibits insurance agents and companies from using the guaranty association in any advertising and agents are prohibited by statute from using this Web site or the existence of the guaranty association as an inducement to purchase insurance(e.g., ). Presumably, this is a response to concerns by stronger insurance companies about moral hazard. Compensation for advisors or salespeople Deferred annuities, including fixed, fixed indexed and variable, typically pay the advisor or salesperson 1 percent to 10 percent of the amount invested as a commission, with possible trail options of 25 basis points to 1 percent. Sometimes the advisor can select his payout option, which might be either 7 or 10 percent up front, or 5 percent up front with a 25 basis point trail, or 1 percent to 3 percent up front with a 1 percent trail. Trail commissions are most common in variable annuities while fixed annuities and fixed indexed annuities typically pay an up front commission. Some firms allow an investor to pick an annuity share class, which determines the salesperson's commission schedule. The main variables are the up-front commission and the trail commission. Fixed and Indexed Annuity commissions are paid to the agent by the insurance companies the agent represents. Commissions are not paid by the client (annuitant). "No-load" variable annuities are available on a direct-to-consumer basis from several no-load mutual fund companies. "No-load" means the products have no sales commissions or surrender charges. References External links National Association of Insurance Commissioners The National Association for Fixed Annuities Insurance in the United States United States contract law Annuities