Surrendering an Annuity: Beware of Taxes and Surrender Fees

📋 Video Summary: There are many reasons why individuals decide to surrender their annuities. Unfortunately, one of the most common reasons that we see is when individuals realize that they were sold the annuity by a broker and that annuity investment was either not in their best interest or they discover that there are other investment solutions that will better meet the investment objectives. This situation can often lead to individuals making the tough decision to cut their losses and surrender the annuity. But before surrendering their annuity, it’s important for investors to understand the questions to ask the annuity company about the surrender fees and potential tax liability before making e the final decision to end their annuity contract.

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0:00 Intro
1:00 Surrender Fees
3:09 Tax Liability
4:44 Tax Strategies
5:38 Surrender or Not?
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