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Can I Take My Annuity as a Lump Sum?
Published July 20, 2019
Whether you can take your annuity as a lump sum depends on the kind of annuity you purchase, as well as when the annuity was purchased.
The following annuities offer the ability to take a lump sum:
- Fixed annuities
- Variable annuities
- Indexed annuities
However, if you purchased the annuity within the last few years, you will incur a surrender charge when you withdraw. But, if you purchased more than 10 years ago and did not annuitize it, you typically do not incur a charge.
The following annuities generally do not offer the ability to take a lump sum:
- Immediate annuities
- Longevity annuities
- Qualified Longevity Annuity Contracts
To speak with one of our annuity experts about taking your annuity policy as a lump sum, you can schedule a call here.
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