A single - premium indexed annuity that offers protection from market loss, a 10 - year surrender charge period, and suite of optional riders. (phoenix.nsre.com)
In addition, the issuing insurance company may have its own set of surrender charges for withdrawals taken during the initial years of the contract. (amgfunds.com)
If you surrender a universal life policy you may receive less than the cash value account because of surrender charges which can be of two types. (dfs.ny.gov)