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What (who) is cash surrender value - definition
TYPE OF VALUE
Surrender value; Nonforfeiture value; Cash surrender value
surrender value
¦ noun the amount payable to a person who surrenders a life insurance policy.
surrender value
(surrender values)
The surrender value of a life insurance policy is the amount of money you receive if you decide that you no longer wish to continue with the policy. (BUSINESS)
N-COUNT
Cash value
Cash Value refers to an investment component in life insurance that grows tax-free over the course of the policy's life. Cash value is a part of permanent life insurance policies and is a living benefit that the policyholder can use during his or her lifetime.
Wikipedia
Cash value
Cash value refers to an investment component in life insurance that grows tax-free over the course of the policy's life. Cash value is a part of permanent life insurance policies and is a living benefit that the policyholder can use during his or her lifetime.
