My mother (late 70s) has an annuity that is only getting 5% interest and is past its surrender period. Her insurance man is trying to get her to do a 1035 into another annuity at 6.25%, but it comes with a 6 year surrender schedule.If she doesn't want any immediate tax consequence, is this the only way she can go? As all of the money in this account is pretty much earning, is there anywhere else she can go with it and still stay tax deferred?
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