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单词 cash surrender value
释义

cash surrender value


Thesaurus
Noun1.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 insuredamount, amount of money, sum, sum of money - a quantity of money; "he borrowed a large sum"; "the amount he had in cash was insufficient"

Cash Surrender Value


Cash Surrender Value

The 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 value


Cash Value

The amount of cash that becomes available to an insured person upon the cancellation of his/her insurance policy. Most often, this applies to the savings portion of a canceled whole life policy. This value is considered an asset and can be borrowed against or used as collateral. It may also be called a cash surrender value or a surrender value.

cash surrender value

The money paid by an insurance company to a policyholder who is canceling an annuity or cash-value life insurance policy. Cash value accumulates when premiums and interest on any previous cash value exceed the cost of insurance. Generally, the cash value a policyholder receives upon cancellation is not taxable unless it exceeds the sum of the premiums paid. Also called surrender value.

Cash 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.

AcronymsSeeCSV

cash surrender value


  • noun

Words related to cash surrender value

noun 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

Related Words

  • amount
  • amount of money
  • sum
  • sum of money
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更新时间:2024/12/23 1:18:09