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Read the exit: surrender, free amount, value adjustment

Before you quote, read what leaving early costs: the surrender scale, the free withdrawal and the market value adjustment.

Do it in Genius

Income rider calculator row ⋮ Annuity info Withdrawal

Practice Client, 3 Nov 2026: Withdrawal shows surrender charge 10% in year 1, 1% in year 10. Free Withdrawal: 10% of Accumulation Value.

Rates change every day, so yours will differ.

Open Income rider calculator in Genius (opens the app in a new tab)

In the app: Calculators → Income rider calculator

The Withdrawal tab of Annuity info: the surrender charge schedule by year, the free withdrawal, contract features and the minimum cash value. (opens full size in a new tab)
  1. 1.

    Click the three dots on a row, then Annuity info, then Withdrawal. Read the surrender schedule, free withdrawals and Market Value Adjustment.

    Surrender charge
    A contractual charge on a withdrawal or surrender during the charge period. It is separate from any MVA or tax.
    MVA
    Market value adjustment: a contract formula that can raise or lower some withdrawal values. Higher rates tend to make it negative.

    The contract states the scale and the MVA formula. The scale often declines: read the exact year and state.

  2. 2.

    Lower on the same tab, find Initial GMCSV, the minimum cash value. Then the Waivers: Death, Terminal Illness, Annuitization, RMD.

    GMCSV
    The lowest cash value the contract pays on surrender: a share of premium plus a small yearly interest.
    Annuitization
    Turning the contract into regular payments. Income from a withdrawal rider is not annuitization: ask the insurer if the waiver applies.
    RMD
    Required minimum distribution: the least a traditional IRA owner must take out yearly, from a set age.

    Minimum value: 87.5% of premium at 2.9% a year. Waivers have conditions: read the insurer's text.

  3. 3.

    Open Highlights too. It shows the surrender scale, free withdrawal and MVA on one page, easy to read from on a call.

    Highlights also lists Return of Premium. The minimum value and the waivers are on Withdrawal.

  4. 4.

    Say: "Leaving in year 1 costs 10%, plus any market adjustment. Each year you can take 10% of the account value without that charge."

    The contract says when the free amount starts. An MVA may apply. Not free of tax: ask a tax advisor.

You're done when you can tell a client what leaving in year 1 costs and what is free each year. Say if an MVA applies.
Watch out: Tell the client about the free-look period: the days after delivery when they can cancel and get a refund. The length and the refund depend on the state and the contract.
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