How to Cash in an Annuity Early

Submit Your Tip

How to Cash in an Annuity Early – This is a place for the community to provide tips and advice on How to Cash in an Annuity Early. This topic was created by m 4dc 0ckr 04ch and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

Tip 1 - Think Twice Before Cashing Out Your Annuity

Published: 9 years, 3 month(s) ago | Submitted by Sharon Gallagher | permalink

I've had a variable annuity since 2000, and the cash value is now about $10,000 less than I originally invested. I'm ready to cash out. Are there any reasons I shouldn't?
Tags: anniuty, annuities, cash, cashing, retirement, money, variable

For further reading: http://www.kiplinger.com/article/insurance/T003-C001-S001-think-twice-before-cashing-out-your-annuity.html ^[1]

Tip 2 - What is an annuity?

Published: 9 years, 3 month(s) ago | Submitted by Hans Fengel | permalink

An annuity is an insurance product that pays out income, and can be used as part of a retirement strategy. Annuities are a popular choice for investors who want to receive a steady income stream in retirement.
Tags: annuities, annuity, variable annuities, fixed annuities, risks, retirement, how to retire, retirement planning, planning for retirement, retired, retire, Ultimate Guide to Retirement, CNNMoney, personal finance, financial planning, plans

For further reading: http://money.cnn.com/retirement/guide/annuities_basics.moneymag/index9.htm ^[2]

Tip 3 - Surrendering vs. Selling Payments - Fees & Charges

Published: 9 years, 3 month(s) ago | Submitted by Jim Willig | permalink

When you want cash for your annuity, compare options like surrendering the annuity, taking a partial withdrawal or selling payments.

For further reading: http://www.annuity.org/cash-value/surrender-annuities/ ^[3]

Tip 4 - How to Get Immediate Cash for Your Annuity

Published: 9 years, 3 month(s) ago | Submitted by GERARDO LANCIA | permalink

If you, as a retiree and holder of an annuity contract, find yourself financially strapped for any reason, you can get immediate cash in lieu of some or all of your future annuity income. Follow the steps below to find out how to cash in...
Tags: WikiHow, Get Immediate Cash for Your Annuity, wiki, how to articles, how to instructions, DIY, tips, howto, learn, how do I

For further reading: http://www.wikihow.com/Get-Immediate-Cash-for-Your-Annuity ^[4]

Tip 5 - Break Out Of Annuity Prison

Published: 9 years, 3 month(s) ago | Submitted by Thomas Ward | permalink

Annuities offer security but also lock up your cash. The secondary market could be your key.
Tags: annuity,annuities,payment,plan,payout,secondary annuity market,secondary,market,immediate annuity,tax-deferred annuity,liquidity,money market fund,social security,pension,tax bracket,investor,index,fund,mutual fund,options

For further reading: http://www.investopedia.com/articles/pf/07/annuities.asp ^[5]

Tip 6 - How to Cash in an Annuity Early | eHow

Published: 9 years, 3 month(s) ago | Submitted by Pam Swinea | permalink

Annuities are tax-deferred investments offered through insurance companies that have a contract term called a surrender period. You can cash out of an annuity during the surrender period, but may be assessed a penalty in doing so. In addition, if you are not yet 59-1/2 years old, you may be assessed a 10 percent tax penalty for cashing out early,...

For further reading: http://www.ehow.com/how_5822708_cash-annuity-early.html ^[6]

Tip 7 - Getting out of your annuity

Published: 9 years, 3 month(s) ago | Submitted by Jeffrey Dendy | permalink

If you have an annuity (whether it's variable, fixed, or equity-indexed) and you're thinking of dumping it, carefully consider the consequences of your decision.
Tags: annuity, variable annuities, fixed annuities, cashing out your annuity, annuities tax treatment, IRS, 1035 annuity transfer, IRA tax-deferred status, annuities surrender fees, annuities withdrawal fees, annuity contracts, waiver benefits, immediate annuities, VA, annuity payouts.

For further reading: http://www.insure.com/life-insurance/annuities/annuity-surrender.html ^[7]