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.
normally the sales charge is in the form of a back end load also known as a contingent deferred sales charge cdsc cdscs are usually incurred if the owner surrenders the contract or withdraws funds that exceed the free withdrawal amount a specified amount usually equal to 10 % of the contract value sales charge does not have to be a cdsc though instead of a cdsc an annuity may impose an initial sales charge also known as a front end load front end loads are applied as a set percentage of each premium payment e g 3 %