What is a market value adjustment (MVA)?

{"subtitle":"Some annuities have a market value adjustment (MVA) assessed if you withdraw more than the allowable amount.","answer":["Essentially, a market value adjustment compares current interest rates against the interest rate at the time you started your annuity. If rates have gone up, your annuity rate is worth less and you will be penalized for that. But, if rates have gone down, your annuity is worth even more and you will benefit from the MVA. Some insurance companies cap the amount you can lose or benefit through an MVA.","If you do not withdraw more than the allowable amount, you will not be assessed for an MVA."]}