Who must sign the authorization to surrender a deferred annuity?

In the context of annuities, the individual who must sign the authorization to surrender a deferred annuity is the owner. This is because the owner holds the contract and has the legal authority to make decisions regarding it, including accessing funds, surrendering the policy, or making changes.

The owner’s role is crucial, as they are responsible for the management of the annuity's terms and can initiate actions such as surrendering it for cash value. The beneficiary, while they may receive benefits from the annuity upon the owner’s death, does not have the authority to surrender the contract during the owner's lifetime. Similarly, the insurer is the entity providing the annuity and does not have a personal stake in the decision; they simply process the request according to the owner’s wishes. The annuitant may be an individual receiving benefits from the annuity at a later time, but if they are not the owner, they do not have the authority to authorize surrenders.

This hierarchy of authority ensures that the financial responsibilities and decisions surrounding the annuity are maintained by the individual who has invested in it.