Insurance Glossary

Industry jargon and unfamiliar terminology can be confusing.

No insurance resource would be complete without a helpful menu of terms and concepts. This information-rich list will help you make sense of the solutions you are considering.

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Surrender Charge

A fee charged for early withdrawal of funds from a life insurance policy or annuity, or for cancelling the agreement. This fee reflects the insurance company's expenses for sales, underwriting, issuing, and administering the policy.