HypnosisExcellent questions!One way of looking at the difference between your high-water mark of $42,000 and the current approximate value of $20,000 is that the $22,000 difference represents additional paid up life insurance. So you would lose that value if you cashed in the VARIABLE ANNUITY at this time.Your accountant appears to have given you sound advice, as far as it goes. Do you have a strategy for how you are going to maximize your potential to close the gap between current value and death benefit?Your case illustrates a perfect example of what is very common today. Holders of VARIABLE ANNUITIES with cash surrender values far below the death benefit are trapped in the annuity, even though there would, perhaps, no longer be an early withdrawal penalty. On one hand they have a product that they may no longer wish to own as part of their investment holdings, and on the other, it makes the most sense (because of the death benefit) to leave the annuity intact.I hope you don't have to take withdrawals from this account to support you in your retirement.PosFCF
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