Which circumstance would NOT qualify for a hardship withdrawal that avoids surrender charges on a variable annuity?

The circumstance that does not qualify for a hardship withdrawal avoiding surrender charges on a variable annuity is education expenses. Hardship withdrawals are typically designed to provide access to funds without penalties for situations that pose immediate financial needs. Common qualifying events often include serious and urgent circumstances, such as medical issues or loss of income.

Nursing home confinement, natural disasters, and unemployment all involve immediate and significant financial strains or emergencies that can justify the need for early access to funds without incurring penalties. Education expenses, while important, usually do not meet the same level of urgency or crisis that these other situations represent. Consequently, withdrawals for educational purposes are generally not considered as compelling as those related to critical life events.