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The definitions contained herein are for general information only and are not designed for use in connection with the interpretation of any insurance policy or annuity policy issued through Insurance Answer Center.
Life Insurance Glossary Terms  4 A B C D E F G H I J K L M N O P Q R S T U V W Y

Partial Surrender

Certain permanent life insurance policies may allow the policy owner to cash out part of the policy. Under a partial surrender, the death benefit and future premiums will be reduced by the same percentage. The same percentage of the cash value less (1) an equal percentage of the surrender charge (a penalty for early termination of a life insurance policy), and (2) an equal percentage of any outstanding policy loans will be paid to the policyowner. See also Partial Withdrawal, Whole Life, Interest-Sensitive Whole Life and Universal Life.

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