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.
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.