Annuity Exchanges, Full or Partial, Boost Flexibility without Creating Taxes
Cashing in an annuity usually produces taxable income. Additionally, if you surrender your annuity before the contract term is up, often there's a surrender charge.
But you aren't stuck for years if you have a low-paying annuity or even a type of annuity, such as a variable annuity, that no longer meets your needs. You can make a tax-free 1035 annuity exchange. You can trade in
