What is the name of your state?: Virginia
My mother is 75 years old and got an annuity with Insurance company, I suggested she cancel it, and they are charging her 15% of the money invested. I was not aware of the 10 day automatic cancellation, otherwise it would be 5-years without being charged a surrender fee. I want to know if this is accurate and what can be done about this, she need her money to live on.