I agree. If you can now do a 1035 exchange without penalty and the investment has not been performing to your satisfaction, look at these options: 1. Different choices within the same company. An equity investment will perform best over the long run. If one is going to pay the higher fees and "mortality charge" of an annuity, you want to invest quite aggressively to make the company work for you. A guaranteed 8% or whatever rate doesn't sound like a variable annuity at all; and unless you plan to start drawing money in the next five years, you should still be in the stock market, meaning variable annuity and a fairly aggressive choice. 2. Different company. Look at Vanguard and Fidelity, both of which have annuities with lower fees than most and no surrender charge. You can do a 1035 exchange by contacting those companies, selecting one, telling the company of your choice what you want to do and they will handle the paper work for you after you provide the account number and perhaps a copy of the most recent statement. Best wishes, Chris
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