Surrender or Withdrawal Charges

If you need access to your money, you may be able to take all or part of the value out of your annuity at any time during the accumulation period.  If you take out part of the value, you may pay a withdrawal charge.  If you take out all of the value and surrender, or terminate, the annuity, you may pay a surrender charge.  In either case, the company may figure the charge as a percentage of the value of the contract, of the premiums you've paid or of the amount you're withdrawing.  The company may reduce or even eliminate the surrender charge after you've had the contract for a stated number of years.  A company may waive the surrender charge when it pays a death benefit.