Direct answer
No, because annuities are primarily designed as long-term retirement savings vehicles, and withdrawing funds early for medical costs often triggers significant surrender charges and tax penalties.
Standard annuity contract terms and IRS tax regulations regarding early distributions. For additional information about the tax treatment of early withdrawals, see the Internal Revenue Service‘s guide on pension and annuity income.
What this means for you
No, because annuities are primarily designed as long-term retirement savings vehicles, and withdrawing funds early for medical costs often triggers significant surrender charges and tax penalties.
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