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In 2009, Ted purchased an annuity for $60,000. The annuity is to pay him $1,500 per month for the rest of his life. His life expectancy is 120 months. A). Ted is not required to recognize any income until he has collected 40 payments (40 $1,500 = $60,000).
With deferred annuities, there are surrender charges to get your money out of the product. For example, if the surrender charge on an annuity was 7% and your accumulation (i.e. walk away) value was $100,000â¦â¦..you would receive $93,000 if you fully surrendered the policy.In my opinion, surrender charges are âfeesâ and should be considered when making an annuity buying decision.If you sell a deferred annuity that is past its surrender charge, then there are no fees to sell. But if you sell your 10 year deferred annuity in year 5, then you will be charged a fee to sell.Always remember, surrender charges are fees.or example, if the surrender charge on an annuity was 7% and your accumulation (i.e. walk away) value was $100,000â¦â¦..you would receive $93,000 if you fully surrendered the policy.