Transferring an annuity from one provider to another
How long should it take to transfer an establised annuity to another annuity provider?
After completion of online forms, on July 19, 2023, should the estblished annuity provider contact me to approve the transfer of my funds to the new annuity provider.
Both providers are in other states; so transactions must be done online.
Also, are annuity transfers non-taxable events?
Thank you.
Terry Says
Why would you do a direct rollover from one annuity to another?? This likely incurs new (internal) commissions for the salesperson. And it will start a new surrender period.
Were you told this was a “better deal”? Likely, only for the annuity salesman!!
I’d suggest you gather your paperwork and book an appointment with Stan, the Annuity Man. He will give you the insight into whether this was a good deal. And if it just happened, you may be able to rescind the entire transaction!
https://www.stantheannuityman.com/
