Similarly, most states offer some asset protection for the cash value of life insurance policies as well as annuities. (insuranceandestates.com)
A surrender charge is a hold back amount that an insurer charges against the cash values of a life insurance policy for the first 8 to 10 years, if funds are withdrawn early. (moneysense.ca)
Should anything happen to you in that period, your family will receive the face value of the life insurance policy as a benefit. (trustedchoice.com)