Real Dictionary

surrender
verb: If you surrender, you stop fighting or resisting someone and agree that you have been beaten.

surrender in American English
to give up possession of or power over; yield to another on demand or compulsion
intransitive verb: to give oneself up, as into the power of another; submit or yield
noun: the act or an instance of surrendering
transitive verb: to yield (something) to the possession or power of another; deliver up possession of on demand or under duress

surrender in British English
verb: to relinquish to the control or possession of another under duress or on demand

surrender in Finance
verb: If you surrender an investment such as an insurance policy, you cash it out before maturity at a penalty.

surrender in Insurance 1
verb: If you surrender an endowment or other life policy, you terminate it before the agreed maturity date.

surrender in Insurance 2
noun: The surrender of an endowment or other life policy is the situation when the policyholder decides to terminate it before its maturity date in return for a fee.