How do I avoid the 10% penalty for early withdrawal from a variable annuity? - variable annuity performance 2009
Are seventeen years old, my father created a variable annuity with Nationwide Insurance for my newborn daughter with her college expenses to help. I was appointed guardian (until he is 18) and also the beneficiaries. Now I would like to take this money and for their college costs, but it seems that the contract is only a 10% penalty for withdrawal prior to 59.5. Is there a way around this disadvantage by avoiding the funds for the school?
Wednesday, February 3, 2010
Variable Annuity Performance 2009 How Do I Avoid The 10% Penalty For Early Withdrawal From A Variable Annuity?
2 comments:
You can avoid the 10% if you go a party to this account. However, we still have to pay taxes.
Check with your bank about the possibility of borrowing against inuity. They will be of interest, but may in his favor in the long-term work.
To avoid this, not to.
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