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URL:  http://boards.fool.com/it-took-three-years-but-we-got-clear-of-her-30862424.aspx

Subject:  Re: Optimal level of annuity purchase may b nega Date:  9/9/2013  10:22 AM
Author:  Hawkwin Number:  72774 of 75381

It took three+ years, but we got clear of her annuity without penalty....and are glad we did.

Don't confuse the two (or many more) types of annuities. What your wife had was a deferred annuity (variable, fixed, EI, or otherwise).

What this paper is about is a straight life immediate annuity and how a significant health event can impact the value of such.

Once you annuitize (or purchase a life annuity), there no longer is a surrender charge to to speak off. There is no liquidity or free withdrawal.*

*The paper did not examine annuities with riders that allowed access to the cash value after annuitization.
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