cash surrender value
Noun | 1. | cash surrender value - the amount that the insurance company will pay on a given life insurance policy if the policy is cancelled prior to the death of the insured |
单词 | cash surrender value | |||
释义 | cash surrender value
Cash Surrender ValueCash Surrender ValueThe amount of money that an insurance company pays the insured upon cancellation of a life insurance policy before death and which is a specific figure assigned to the policy at that particular time, reduced by a charge for administrative expenses. The cash surrender value of an insurance policy is not based upon its actual value, but upon its reserve value—the face amount of the contract discounted at a specific rate of interest according to the insured's life expectancy. Not all life insurance policies have cash surrender values; the terms of the policy must so provide. cash surrender valueCash Valuecash surrender valueCash surrender value.The cash surrender value of a permanent life insurance policy is the amount you receive if you cancel or surrender your policy before you die. It's a portion of the money that accumulates tax-deferred in your cash value account during the period you pay premiums on the policy, minus fees and expenses. Generally the only portion of the cash surrender value that's subject to income tax is the amount that exceeds what you paid in premiums during the time the policy was in force, though you should check with your tax adviser. cash surrender value
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