Feeling pressure to find a short-term solution for quick-cash - and without consulting their financial advisors - people may over-withdraw from their deferred annuity and end up negatively affecting their long-term retirement security.

Before making any decisions that could affect your long-term retirement security you should consult your financial advisor. There are many ways to free up more money that you may not be aware of.

Remember why you purchased an insured retirement strategy, like an annuity - for real retirement security and guaranteed income for life. The last thing you want to do is take care of your needs today by putting your tomorrow at risk. Plus, when you over-withdraw or cash out an annuity, in some cases you could incur a surrender charge and possibly have to pay income taxes on that transaction.

The insurance industry prides itself on consumer service and transparency and the terms are made clear when people invest in insured retirement solutions. The industry is evolving and is unveiling new products every day that consumers can rely on to meet their needs.

If you own an annuity that allows you a certain annual percentage to withdrawal before you begin to receive monthly payments, make sure not to withdraw more than that amount.

An example: You purchased an annuity for $100,000 that allows you a guaranteed 5% annual withdrawal until you start receiving your monthly payments for life. You're OK if you withdraw $5,000 yearly. But if you go over that $5,000, your annual guaranteed withdrawal decreases and you won't be able to take out as much the following years. And, if you completely withdraw the entire policy value, you may lose the annuity altogether. Please consult your financial advisor first before making any decisions.

Pay close attention to all correspondence from your carriers, reading the prospectuses and other materials they send to you. These materials will tell you what rules to follow so you don't find yourself accidentally over-withdrawing.

Bottom line: you purchased an insured retirement strategy to help provide you with long-term retirement security and guaranteed income for life. Let it provide you that stability you've always wanted.

Note: Guarantees are based on the claimspaying ability of the issuer.