Participating life insurance can be decomposed into three parts:a fixed-income bond, a bonus option and a surrender option.

分红型人寿保险保单可以视作由三部分构成：固定收益债券、分红权和退保权。

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Surrender is not considered as an option by them, but they may eventually see it as the only way out.

“投降”对于他们来说不会是一个选项，但是最终还是会看到它将是唯一的出路。

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Federal Interior Minister Rehman Malik told reporters that militants have no option but surrender because the government is determined to "either kill them or arrest them."

VOA: standard.2009.09.11

That is, surrender is an option, not an imperative, as he claimed.

CENTERFORSECURITYPOLICY: The Path to the Next Lebanon War

If victory is an option, then surrender along the lines that Olmert preached in Judea and Samaria is also an option.

CENTERFORSECURITYPOLICY: The Path to the Next Lebanon War

LOL. If one thing could be gleaned from the ruthless, tunnel-visioned, Nike-hubris career of Eldrick Tiger Woods, surrender was not an option.

WSJ: Jason Gay: Tiger's Staying, Are You?: Masters Golf Tournament