Can You Borrow Against A Fixed Annuity?

  1. 21750 POINTS
    Jim Winkler
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That is a great question! Take a look at your contract, or contact your agent. Most annuities will allow for withdrawals if you need some cash, and those withdrawals aren't penalized. They are not considered loans, so you do not have to repay them. Please be careful with what you take out, it can have drastic effects upon what your annuity will earn for you. I do not know what annuity you have, so I cannot make concrete suggestions for you, other than to contact your agent, or someone at the company they work for, and tell them your situation. I'd be happy to help if I could. Thank you for asking!
    Answered on July 8, 2014
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