answersLogoWhite

0

You just have to call the company and surrender the policy. They can fax, email or mail you the proper forms to fill out. You can have the money EFT'd directly to your bank account. From start to finish it typically takes 10 days.

User Avatar

Wiki User

14y ago

What else can I help you with?

Continue Learning about Gerontology

Are annuity survivor benefits taxable to annuitant's spouse?

Yes, annuity survivor benefits are generally taxable to the annuitant's spouse as income when received. The taxable amount will depend on factors such as the type of annuity, how the annuity was funded, and any contributions made with pre-tax dollars. It is advisable to consult with a tax professional for specific guidance.


Do you capitalize grantor retained annuity trust?

Yes, Grantor Retained Annuity Trust should be capitalized as it is a specific type of trust.


Does Life with Certain Annuity expire?

Life with a certain annuity typically does not expire for the duration specified in the contract, which could be for a set number of years or for the life of the annuitant. Once the specified period ends, the annuity payments cease.


Is a Grantor Retained Annuity Trust revocable or irrevocable?

A Grantor Retained Annuity Trust (GRAT) is an irrevocable trust that allows the grantor to transfer assets to beneficiaries while retaining an annuity interest for a specified period. Once the GRAT is established, the terms cannot be changed or revoked by the grantor.


What is a period certain annuity and a life annuity?

Alright, buckle up, buttercup. A period certain annuity pays out for a specific period, even if the annuitant kicks the bucket before it's up. A life annuity keeps paying until the annuitant shuffles off this mortal coil, no matter how long they linger. It's like choosing between a fixed-term fling and a lifelong commitment in the world of annuities.

Related Questions

Do you pay taxes on income earned in an annuity?

If the annuity is a non qualified tax deferred annuity (an annuity that taxes were paid on the money before they were placed into the annuity) you will pay taxes on any interest growth when it is removed from the annuity. If the annuity is a qualified annuity (no taxes were paid prior to placing the fund into the annuity) you will pay taxes on all withdrawals from the annuity.


What is the primary difference between an annuity and a compound annuity?

difference between an annuity and a compound annuity?Read more: What_is_the_primary_difference_between_an_annuity_and_a_compound_annuity


How do you turn off the mature content on we heart it?

To turn off mature content on We Heart It, go to your account settings by tapping on your profile icon. Then, find the "Content" or "Mature Content" option and toggle it off. This will filter out mature images from your feed. Remember to save your settings before exiting.


What gains more interest an ordinary annuity or an annuity due?

ordinary annuity


What is monthly annuity?

The option to get annuity every month is called monthly annuity.


What The difference between ordinary annuity and annuity due?

ordinary annuity we paid at the end of the period annuity due we paid at the begging of the period


What The differences between ordinary annuity and annuity due?

ordinary annuity we paid at the end of the period annuity due we paid at the begging of the period


Can you turn off mature content for Tomb Raider 2013?

No


Can you lose money with an annuity?

Yes, it is possible to lose money with an annuity if the investments within the annuity perform poorly or if there are high fees associated with the annuity.


What is zone of Maturization?

On average girls are more mature when they turn 10. Boys become more mature when they are maybe 13.


How can you withdraw money from annuity?

Your annuity policy document should have all the withdrawal provision detailed for you. If not contact the company you have the annuity with and they can give you instructions. Before you withdraw from an annuity be aware of the tax treatment of your annuity withdrawals.


Annuity loans are what type of loan exactly?

Annuity loans are when an annuity holder borrows money against the value of an annuity contract. It allows one to access funds without having to cash out their annuity immediately.