What happens when a TD-MAX III becomes three years old? Will it be automatically surrendered and the owner sent the money?
No, at the end of three years the annuity no longer has any penalties. The annuity could be surrendered, rolled to a new annuity contract or left alone to earn interest, all at the option of the annuity owner. In the absence of any other instructions the automatic option is to leave it alone and have it continue to earn interest at a renewal rate. The owner can make his choice at any time after the three years are up.
Related Questions
- What happens when a TD-MAX III becomes three years old? Will it be automatically surrendered and the owner sent the money?
- What happens if there is not enough money in the patients bank account when the payment is automatically run?
- WHAT HAPPENS TO INMATES MONEY WHEN HE IS SENT TO PRISON OR OTHER FACILITY?
