Charges that are deducted if a life insurance policy or annuity is surrendered (cashed in). These charges also are deducted if the policyholder borrows money on the policy or if the policy lapses for non-payment.
Charges that are deducted if a life insurance policy or annuity is surrendered (cashed in). These charges also are deducted if the policyholder borrows money on the policy or if the policy lapses for non-payment.