What are the consequences of Stevie Ray withdrawing all his funds from an annuity as a lump

Question:

What are the consequences of Stevie Ray withdrawing all his funds from an as a lump sum of cash before liquidation?
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...