Can I make partial withdrawals without paying surrender charges?
Yes. During the initial guaranteed period (four or six years, you have the right to withdraw up to 15% of the contract value each year without paying a fee. After the initial guaranteed period, there are no fees charged on withdrawals. Also, as explained in your contract, there are no surrender fees for withdrawals made under certain conditions; for example while you are in a nursing home. Keep in mind, however, if you are not yet 59½, you may have to pay an additional 10% tax penalty on top of ordinary income taxes.
