Notice of discontining Annunities?

Jim042,
It's not unusual for annuity companies to discontinue a particular annuity product. It typically simply means that you can no longer contribute additional dollars to an annuity of that type, and if you want to buy a new annuity you need to contribute to whatever contracts are available at that time.

However, it would be HIGHLY unusual if there was any requirement that an existing contract needs to be surrendered. Your brother might want to re-review the directions that he received from the annuity company on that particular point. In most circumstances, there is no problem keeping money in an annuity product that has been discontinued - again, it simply means that if you want to contribute new money to an annuity in the future, you'll have to purchase a new annuity that is being offered at that time.

I hope that helps a little!