That is correct. If you cancel outright at any time prior to final payment you lose the entire deposit. You may also change ship and sail date for a $100 per person penalty.
As mentioned you also may have the option of paying more for a refundable deposit where you can cancel at any time up until final payment for a full refund. The refundable deposit can only be purchased for balconies and below. Suites, including Junior suites, are exclusively non refundable deposits.