Do Fixed Annuities Have Surrender Charges? 
Fixed annuities typically have a schedule in the contract that shows the surrender charges , year-by-year . Depending on the product , the surrender charges decline each year and will go away after a certain number of years . Most annuities will allow you to withdraw up to 10 % each year without any penalty or surrender charge . Annuities can be as short as three years . Money you use to purchase an annuity should be considered committed for that duration in order to take full advantage of the benefits the annuity offers . As always , a knowledgeable agent can be helpful in determining suitability . 