Access to Your Money
What if I need to access my money during the accumulation phase? Annuities are designed to accumulate money for retirement. Hence, they provide their best possible benefit if left intact. This is without taking out any withdrawals. Some of our products offer withdrawal options in your annuity that include 10% penalty-free withdrawals. and first-year credited interest withdrawals. Be careful here, some annuities only allow 5% or interest only so please make sure you understand what options you have before you purchase an index or fixed annuity.
Withdrawals may be subject to early withdrawal charges and taxes. Meaning, if you take over the allowed amount of (5-10%) you will have to pay surrender charges and you will always have to pay taxes on any profits you made.