Are you wondering if you can surrender your deferred annuity and cash out your money? The short answer is yes in most cases, but your ability to exit the contract depends entirely on the specific type of deferred annuity you own and whether you have annuitized the policy.

In this completely unfiltered video, Shawn from The Annuity Expert breaks down the rules surrounding deferred annuity surrenders.

Shawn outlines the major differences between standard Tax-Deferred Annuities (such as MYGAs, Fixed Index Annuities, or Variable Annuities) and Deferred Income Annuities (DIAs):

Tax-Deferred Annuities: As long as you have not annuitized the contract, you can surrender a standard tax-deferred annuity by submitting a simple request form. Surrender charges may apply depending on where you are in your contract schedule, but you retain con ...