Q: What are "Surrender Charges"?
A: Surrender Charges are applied whenever you withdraw some or all of your Account Value.
They are usually in the form of a percentage of the Account Value. Typically, the percentage decreases each year from Issue, eventually falling to zero after a fixed number of years (typically 7).
A: Surrender Charges are applied whenever you withdraw some or all of your Account Value.
They are usually in the form of a percentage of the Account Value. Typically, the percentage decreases each year from Issue, eventually falling to zero after a fixed number of years (typically 7).
