cash surrender value

cash surrender value definition - finance
The amount of money the holder of a cash-value life insurance policy would receive from the life insurance company if the insurance policy were cancelled. A cash-value life insurance policy, in addition to being a life insurance policy, is also an investment and savings account whose value increases each year that it is held. Policyholders also can borrow against the value of the policy.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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