Get Ameritas Cancellation Form

If you need to cash out your annuity, the first step is to contact your insurance company and request an annuity surrender form. Next, decide whether to surrender the entire amount or a partial amount. Then, fill out the surrender form and send it back to the insurance company.

Annuity withdrawals made before you reach age 59½ are typically subject to a 10% early withdrawal penalty tax.

Annuity early withdrawal penalties Annuity withdrawals made before you reach age 59½ are typically subject to a 10% early withdrawal penalty tax.

The online withdrawal system is part of our secure website which you can access via ameritas.com. The system is user-friendly and walks you through the request process and allows you to upload supporting documentation if needed. After you submit the request, you can track the progress of the withdrawal online.

Annuities. Annuity withdrawal. This form is used to request a withdrawal from your annuity contract.

You can withdraw money from an annuity without incurring a surrender charge in a few ways—but it depends on what your provider allows and if you meet specific criteria. For example, there may be exceptions to the surrender charge in your contract.

To avoid owing penalties to the IRS, wait to withdraw until you are 59 ½ and set up a systematic withdrawal schedule. What is the free annuity withdrawal provision? Many, but not all, insurance companies allow you to withdraw up to 10% of your funds prior to the end of the surrender period.

How long does it take to cash out an annuity? If your annuity funds a structured settlement, the cash-out and court approval process may take 45 to 90 days. For all other annuities, the withdrawal process can span roughly four weeks, depending on the quickness of the insurance company and buyer.