Definition of "Cash value"

Diana Newbert real estate agent
Diana Newbert, Real Estate Agent William Raveis Real Estate

Same as term cash surrender value: money the policyowner is entitled to receive from the insurance company upon surrendering a life insurance policy with cash value. The sum is the cash value stated in the money the policyowner is entitled to receive from the insurance company upon surrendering a life insurance policy with cash value. The sum is the cash value stated in the policy minus a surrender charge and any outstanding loans and interest thereon.

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