Penalty-Free Withdrawals

Penalty-free withdrawals are the maximum annual amount that an annuitant can withdraw from the value of their annuity without incurring Surrender Charges. The Return-of-Premium (ROP) Option is a provision that gives the annuity purchaser a refund of the premiums paid at any time throughout the contract. This amount is usually expressed as a percentage of the annuity’s Account Value, usually 10%.