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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