Annutizing an annuity means you are "flipping the switch" and beginning to receive payments. Typical this is when you make decisions about the payment structure but not if the annuity is fixed or variable. When you purchased the annuity you already decided on a the type of annuity and you typically cannot change this. The only way to find out if there is a fee and if you can change the type of annuity is by contacting your annuity company.

Answered by Admin - 8 months ago