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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Kristin Foresti

Kristin Foresti

Financial Planning Professional

Kristin is an expert in fixed and income annuities and knows the ins and outs of most of the products on the market. She is the primary contact for Blueprint Income customers with questions about building income and growing assets.

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