Cash
Surrender Value
Cash Surrender Value: The amount
of money received when a policyholder surrenders a life
insurance policy with cash value. The
savings portion of any universal or variable universal life
insurance policy. The cash surrender value is the amount of
money the policyowner would receive if he or she cancels the
policy (minus any outstanding loans and/or surrender
charges). A policyowner can take policy loans and
withdrawals from the available portion of the cash value of
his/her policy.
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