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What is surrender value? |
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The sum of money an insurance company will pay to the policyholder or annuity holder in the event his or her policy is voluntarily terminated before its maturity or the insured event occurs. This cash value is the savings component of most permanent life insurance policies, particularly whole life insurance policies. Also known as "cash value", "surrender value" and "policyholder's equity".
First answer by Ranger22. Last edit by Ranger22. Contributor trust: 3197 [recommend contributor]. Question popularity: 29 [recommend question]
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