Surrender request form is the carrier-specific document a policyowner completes to request a full or partial surrender of a life insurance or annuity contract. The form typically asks for policy details, surrender type (partial, full, or systematic), tax withholding elections, and payment instructions, and may require signatures from owners, assignees, and in some cases, irrevocable beneficiaries. For qualified contracts, the form may also include sections on required minimum distributions and rollover or transfer options. Accurate completion of the surrender request form ensures that the carrier processes the transaction correctly, applies any surrender charges, and reports taxable distributions to the IRS as required.

Advisors help clients complete surrender request forms when repositioning assets, funding income needs, or executing 1035 exchanges. They explain the difference between net and gross withdrawal options, clarify how withholding choices affect current-year taxes, and confirm whether any riders, guarantees, or death benefits will be lost upon surrender. In business or trust-owned policies, additional signatures and corporate or trustee authorizations may be required. Advisors also ensure that the surrender request form aligns with broader planning goals and suitability considerations, and that clients understand the impact of the transaction on liquidity, benefits, and taxation before submission.