California Annuity Surrender Requirements

California adopted new annuity withdrawal and surrender requirements, effective January 1, 2019. Insurance companies will be required to process annuity withdrawals and surrenders within 45 days of receipt of the request for annuities issued after January 1, 2019.

Additionally, insurance companies are to provide instructions to California annuity owners who wish to request an annuity withdrawal or surrender. A sample of the instructions will be provided to policy owners who request the forms from our customer call center. The instructions are also provided with California annuity policies at issue.

California agents are to provide the withdrawal instructions to policy owners upon request.

For instructions on how to do an annuity withdrawal request, click here.

Please note, these new California requirements exclude immediate annuities and variable annuities. If you have any questions, please contact the National Life Group Sales Desk at 800-906-3310.

TC105444(1218)1