All of the following statements regarding annuities are trueexcept

a. annual fees are an important consideration when purchasing an annuity.

b. withdrawals made from an annuity before age 59-1/2 are subject to a 10% tax penalty in addition to the taxes that would normally be due on withdrawals.

c. contributions to an annuity grow tax free until removed.

d. most annuities do not have surrender penalties on withdrawals made within the first few years of purchase.