Definition of "Liquidation charge"

Susan & Mark  Lettieri real estate agent

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Susan & Mark Lettierielite badge icon

HUNT Real Estate ERA - Williamsville/Clarence

Amount subtracted from an annuity or from mutual fund proceeds payable to an annuity owner or mutual fund owner to reflect expense fees described in the annuity contract or mutual fund prospectus. This charge may be viewed as a penalty for cashing in the annuity or mutual fund early. This fee is meant to discourage early withdrawal of funds and/or to enable the company to recoup its expenses associated with marketing, administering, and liquidating the product.

 

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