3 Ways to Make an Annuity Withdrawal

If you want access to quick cash, you can use an annuity withdrawal. This type of withdrawal can be the only answer to your money problems when you have no other way of getting a suitable income. There are a number of ways that you can make an annuity withdrawal.

Appealing to the Annuity Provider

If you wish to make a withdrawal due to disability or pressing medical needs, then you can write to the company which holds the annuity. The most common examples of disability withdrawals are terminal illness or nursery home confinement. You will be able to find further details about how and when you can withdraw the money by reading your annuity contract. This type of annuity withdrawal is known as a hardship withdrawal. 

Periodic Withdrawal

Periodic withdrawals can be made at irregular periods. This type of agreement will allow you to take up to 10 percent of your balance each year through infrequent withdrawals.

You can find out more information about your withdrawals from your fund organizer. Read the information that is provided to you before you ask questions so that you fully understand the process and how to properly withdraw your money.