No Load Annuity as good as it sounds or bad move?

I need to place a pretty large chunk of money away and have maxed out how much I can put into my IRA retirement accounts. My financial broker has told me that a no load annuity would be a good solution for my needs. I need to have it assessable if needed, it needs to be tax deffer ed while in the annuity, death benefits all go to my son upon my death without having to go through probate. I understand that there are charges for maintenance of the fund, the death benefits and an annual charge all totaling about 3.65% of total amount of annuity which is no small amount. Is this a good option for me as it does offer all my needs but will I actually make anything off of it with a 3.65% annual charge? I am indifferent about what to do. My financial broker is a friend also so I do trust him but he is a salesman. Any experiences with a no load annuity and your stories would be appreciated. Thanks.