When can only the contract owner sign the request for surrender of a deferred annuity?

The correct answer is that only the contract owner can sign the request for surrender of a deferred annuity during the accumulation period of the annuity.

This phase is when the contract owner is actively building up the value of their annuity through contributions and investment growth. It is during this time that they have full control over the annuity contract, including the ability to request withdrawals or surrender the policy.

In contrast, once the annuity enters the payout phase, the nature of the contract changes, and the rights to manage the contract may shift to the annuitant or beneficiaries, depending on the structure of the annuity. During the accumulation period, the contract owner retains the authority to make significant decisions, including surrendering the annuity, emphasizing the importance of ownership and control during this phase.

Therefore, understanding the distinction between the accumulation period and the payout phase is crucial for grasping the ownership rights associated with deferred annuities.