| 释义 |
surrender penalty
noun[ C ]
ukus(alsosurrender charge)
INSURANCE
a charge made by an insurance company for ending an insurance policy early, before its original end date:
The company will levy a surrender penalty, which is 3% of the premiums paid for a plan that has run for six years.
If the policy is less than 10 years old, there may be substantial surrender charges.
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