There may be 50 ways to leave your lover, but the Annuity Guys know of at least five ways to leave your annuity.
Before we jump into the list of five ways to leave your annuity, you should know that fixed annuities are typically long term contracts designed for retirement income and safe growth. You should work closely with an advisor prior to purchasing an annuity or any financial product.
Five Early Surrender Options:
- Free Look;
- Positive Market Value Adjustment (MVA);
- Return of Premium Guarantee or Return of Premium Benchmarks;
- Death of a Annuity Owner or Annuitant;
- Unsuitable Sale.
Guarantees, including optional benefits, are backed by the claims-paying ability of the issuer, and may contain limitations, including surrender charges, which may affect policy values. During this segment, Dick and Eric are referring to Fixed Annuities unless otherwise specified.
Here is a related blog where we discuss surrender charges in much greater detail.
Since David Lettermen retired we thought we should pick up where he left off, with an annuity themed top ten list! Here are the Top Ten Annuity Surrender Charge Questions You Need Answered.
- What is a surrender charge schedule?
- Why do surrenders exist?
- Why surrender charges are not always bad?
- How long do surrender charges last?
- Do surrender charges … [Read More]