LIMRA/SOA study: Fixed-rate deferred annuitants are not surrendering early

August 14, 2024 by John Hilton

Insurance companies generally prefer that annuity contract holders do not surrender their contracts.

While a surrender charge penalty would apply, and some of those who surrender an annuity are doing so to buy another annuity, insurers prefer the stability of a long-term contract holder.

A new study by the Society of Actuaries and LIMRA found that most fixed-rate deferred annuity owners are at least waiting until their surrender charge period is up before surrendering. 

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Originally Posted at InsuranceNewsNet on August 12, 2024 by John Hilton.