Oracle and SPL have complementary products with a shared focus that information and adaptive business processes are keys to achieving corporate revenue and profitability goals. Oracle plans to accelerate the pace of innovation and integration of SPL's products. The strengths of SPL's solutions for utilities are planned to be combined with Oracle's industries leading database middleware, and enterprise applications. 1  Oracle Buys SPL.  Oracle Utilities Customer Care and Billing.
Variable Annuity Surrender Charges. A surrender charge is a type of sales charge you must pay if you sell or withdraw money from a variable annuity during the surrender period-a set period of time that typically lasts six to eight years after you purchase the annuity. Surrender charges will reduce the value of-and the return on-your investment.
Determine the date of policy inception. This is important because annuities require a surrender period where there is a surrender charged to money pulled out. The surrender charge is often up to 15 percent of the money pulled out, and is a period anywhere between 3 and 9 years depending on the annuity terms. Calculate what it will cost to surrender the annuity. Fill out the surrender form, sign and date it. Be sure to mark whether you are doing a partial surrender or a complete surrender. You should also be able to request whether or not taxes are to be withheld from the distribution.