You can't withdraw prematurely from an annuity without being penalized. Fixed and equity-indexed annuities are subject to these early surrender fees, specified in the contract, usually before seven years.
What’s more, earnings are taxed as income, not at the long-term capital gains rate.
Moreover, annuities usually charge more than 1% a year for the death benefit, something you may not require as your objective..(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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