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.
If you purchase the annuity in 2013, you are free of surrender charges by 2020. Annuity B charges surrender fees based on the date of each premium payment. It also has a seven-year surrender period starting at 7% and dropping a percentage point each year.The first year's payments are free of surrender charges in 2017.here are a few vendors that offer annuities with minimal or no surrender fees. More typically, annuities have a surrender schedule that lasts six or seven years. The fee may start at about 6% or 7% initially, then decrease each year until it reaches zero. Some have much higher fees and/or longer terms.