No annuity product is free of charges, and sometimes these charges are difficult to find and understand.
Costs could include mortality and expense (called M&E), surrender charges, management fees, and charges associated with riders, among others. There could also be penalties for early withdrawals.
Find a professional to help you understand the charges completely. You might earn a better rate of return in a product with lower fees, but would you have stayed the course without the guarantees provided by these unique products?
For some people, the guarantees are worth the cost. Talk to your professional to be certain that you understand the costs and benefits.