Which situation typically does NOT qualify for surrender charge waivers on withdrawals?

Surrender charge waivers on withdrawals from annuities are typically designed to provide financial relief in specific situations where the policyholder may face unexpected financial burdens. The other scenarios listed—unemployment, natural disaster, and diagnosis of a terminal illness—are widely recognized as qualifying events for surrender charge waivers because they represent circumstances where individuals may have an urgent need for access to their funds, thereby justifying the leniency in withdrawal penalties.

In contrast, education expenses do not fall under the common categories that warrant surrender charge waivers. While education can be a significant financial obligation, it is generally considered a planned expense. Insurers often focus on unanticipated financial hardships rather than expected costs like tuition or educational fees when defining their waiver policies. Thus, withdrawals made solely for education purposes typically do not qualify for these waivers, making this choice the least likely to receive an exemption from surrender charges.