A surrender period of an annuity is the time in which the investor must keep a certain amount of money (if not all) in the annuity account. A surrender fee is when you are charged a penalty for taking out your money before the surrender period ends. In some cases, it can be quite a long time before you can move your money out of the annuity account. Usually, surrendering periods shouldn't influence annuity sales as each contract is crafted differently when your transaction is handled by a professional broker.
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