Surrender, Life Insurance

Definition of "Surrender, life insurance"

Kimberly Farrell real estate agent
Kimberly Farrell, Real Estate Agent Keller Williams Realty

Action by the owner of a cash value policy to relinquish it for its cash surrender value. Since the depression of the 1930s, companies have reserved the right to delay payment of a cash surrender value up to six months; however, payments have been prompt.

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