Which of the following statements regarding annuities is FALSE?

The statement that "The annuitant is always the same person as the owner of the annuity" is false because the roles of the owner and the annuitant can differ. The owner of an annuity is the person who purchases the annuity and has control over it, such as the ability to make changes or take withdrawals. The annuitant, on the other hand, is the individual whose life determines the duration of the annuity payments. It is possible for someone to purchase an annuity for another person; for instance, a parent may buy an annuity for their child. Thus, the annuitant does not have to be the same individual as the owner, making this statement inaccurate.

The other options describe correct aspects of annuities. An annuity can indeed be classified as either immediate or deferred based on when payments start. Straight life annuities provide benefits for the lifetime of the annuitant without any payments after death, and surrender charges are designed to prevent excessive withdrawals and serve as a back-end load during early cancellation, thus protecting the insurer's investment in the contract.