cash surrender value


The amount available in cash upon cancellation of an insurance policy, usually a whole life policy, before it becomes payable upon death or maturity. also called cash value or surrender value.

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Whole life insurance policies which high cash surrender values can often be pledged as collateral for personal or business loans.

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I thought there would be some cash surrender value and that meant that things would operate a little differently and I would be getting cash back.

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Since they were broke they decided to look at cashing in on anythinh they could. The cash surrender value on their life insurance policy would be enough to get them through.

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