Definitions for "Policy Fee"
A 'small case' administrative fee charged on structured settlement annuities that are less than a specific size. This 'small case' fee is usually charged on structured settlement annuities that have a cost of less than $10,000 to $25,000. These fees, which change from insurance company to insurance company, are usually less than $400.
This is an administrative fee that is part of most life insurance policies. It ranges from about $40 to as much as $100 per year per policy. It is not a separate fee. It is incorporated in the regular monthly, quarterly, semi-annual or annual payment that you make for your policy.
In traditional (non-variable) life insurance, a flat, one-time charge, included in the premium, to help cover the one-time costs involved in issuing a policy. With variable policies, periodic charges assessed against accounts to cover costs.