surrendered plan
[/səˈrendərd plæn/]
nounpl: surrendered plans
plano de resgate
1. An insurance or investment plan that has been terminated early by the policyholder, typically resulting in the return of a reduced cash value after applicable fees and penalties
After reviewing his finances, John decided to cash in his surrendered plan and received a lump sum payment.
Após revisar suas finanças, João decidiu desistir de seu plano e recebeu um pagamento em quantia única.
2. In the context of pension or annuity contracts, an agreement where the holder gives up their rights to future benefits in exchange for immediate payment
The surrendered plan option allowed her to withdraw funds before retirement age, though with a significant penalty.
A opção de plano de resgate permitiu que ela sacasse fundos antes da idade de aposentadoria, embora com uma penalidade significativa.
This term is predominantly used in formal financial and insurance contexts in both the United States and Brazil. In Brazil, individuals often consider surrendering plans when facing economic hardship or when reassessing investment priorities. The practice carries financial implications including surrender charges and reduced returns, making it an important decision in personal financial planning across both cultures.
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