surrender value

noun

Insurance.

1. cash value.

Word History and Origins

Origin of surrender value¹

First recorded in 1875–80

Example Sentences

Cash surrender value is only offered when you enroll in a permanent life insurance policy.

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While having the ability to access the cash surrender value before maturity is an advantage, you can also expect to pay a higher premium if you choose a universal life or whole life policy.

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Initially, the cash surrender value of your policy will be low.

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However, as time passes, the cash surrender value of your whole life or universal life policy will begin to increase.

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With many of these policies, you can usually take out a portion of your surrender value and still keep your policy active — be sure to check the terms before you fill out an application to see if this is possible.

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