Every annuity has more than one way forward.
Most owners are only told two: keep paying or pay to leave. These are all six, and what each one costs.
Keep it, with eyes open
For many people this is the right answer. The point is to choose it, not default into it.
We find the date your surrender charge ends, what each rider costs you each year and whether it is still worth paying for. Then you know exactly when to revisit.
Find my datesTake penalty-free withdrawals
Many contracts let you take part of your money out each year with no surrender charge.
The allowed amount is often a percentage of the contract value, set out in the contract. Withdrawals can still have tax consequences, and taking money out can reduce some rider benefits. We check both before you act.
Exchange it (1035)
Section 1035 of the tax code lets you move from one annuity to another without paying tax on the gain.
The risk: the new contract usually starts a new surrender period, and the person recommending it is often paid a new commission. We compare both contracts line by line so you only switch if the new one is actually better for you.
Surrender (cancel) it
Getting out is always possible. The question is what it costs, and whether waiting would cost less.
The full cost can include the surrender charge, a market value adjustment, income tax on any gain and, before age 59½, a 10% IRS additional tax. We put a dollar figure on each, today and at each future anniversary.
How surrender charges work
Use your free-look period
Recently bought? State law gives you a window to cancel, usually for a refund.
Free-look periods commonly run from 10 to 30 days after you receive the contract, depending on your state and your age. If you are inside that window, call the firm today: (888) 557-1640.
Challenge how it was sold
If an annuity was unsuitable for you, or its terms were misrepresented, you may have legal remedies.
Warning signs include pressure to decide quickly, a replacement that reset your surrender clock, income or liquidity needs that were ignored, or features described differently from the contract. A law firm can file complaints with regulators and pursue claims on your behalf. Outcomes depend on the facts and are never guaranteed.
Have my contract reviewed
Find out where you stand.
Your consultation is free. One call from the firm. No one will try to sell you anything.