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irs minimum required distributions

Fixed Annuity, Index Annuity, What To Watch Out For,

What Is A Surrender Charge?

What is a Surrender Charge? Annuities: Withdrawals At no Charge A deferred annuity may be surrendered to receive a lump-sum payment of the account’s value. Most annuities have a surrender period that allows withdrawal at no charge. Withdrawals during the surrender period (meaning during the contract term, remember only allow this to be a MAX of 10 YEARS!) are usually subject to charges based on several factors including the account value and the number of years remaining. DO NOT accept any surrender charges over 10%. If you have any questions please contact us. Some products will have 14% or 20% surrender changes. Insurance companies should not sell these! Surrender-Charge Free Withdrawal Options Annuities are long-term instruments designed to accumulate money for retirement. Consequently, they provide the best