Annuities
8 months ago

What is the difference between an annuity surrender period and surrender charge?

76

Looking at a 7-year fixed annuity. The brochure mentions an 8-year surrender period with surrender charges starting at 8% and declining. Does this mean my money is locked up for 8 years? What if I need the money in year 3? Are there exceptions?

SU
@SurrenderChargeQuestion

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