In one product that offers a three - year surrender charge period, early surrender charges are limited to 2 % in the first two years, and 1 % in the third year. (thinkadvisor.com)
A single - premium indexed annuity that offers protection from market loss, a 10 - year surrender charge period, and suite of optional riders. (phoenix.nsre.com)
And note, not all annuities are the same, so you will find insurance companies with longer surrender charge periods and variation in their penalty - free policies, just keep in mind that these options are available and can be useful if needed. (insuranceandestates.com)