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Are there annuity contract charges or penalties on withdrawals?

April 26, 2017Annuity Charges contract penalties withdrawals

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Are there annuity contract charges or penalties on withdrawals?

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Most annuities have a pre-determined surrender charge period as well as provisions for penalty free withdrawals. Consult your contract to determine the specific charges and withdrawal provisions for your annuity. You may want to obtain tax or legal advice before making a withdrawal from an annuity contract issued on a qualified basis.