cash surrender value Synonyms
No Synonyms and anytonyms found
cash surrender value Meaning
cash surrender value (n)
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
cash surrender value Sentence Examples
- When surrendering a life insurance policy, it's essential to understand the cash surrender value.
- The cash surrender value represents the amount of money an insurance policyholder receives upon canceling their policy before its maturity date.
- Policyholders may choose to surrender their policies to access the cash surrender value in times of financial need.
- Insurance agents often explain to clients how the cash surrender value accumulates over time.
- The cash surrender value of a policy depends on various factors, including the length of time the policy has been in force and the premium payments made.
- Surrender charges may apply if a policyholder decides to access the cash surrender value before a certain period.
- Policyholders should review their insurance contracts to understand the terms and conditions related to the cash surrender value.
- The cash surrender value serves as a safety net for policyholders who require liquidity in emergencies.
- Surrendering a policy for its cash surrender value may result in tax consequences, depending on the amount received and the policy's tax status.
- Financial advisors often recommend considering all options before surrendering a policy to access its cash surrender value.
FAQs About the word 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
No synonyms found.
No antonyms found.
When surrendering a life insurance policy, it's essential to understand the cash surrender value.
The cash surrender value represents the amount of money an insurance policyholder receives upon canceling their policy before its maturity date.
Policyholders may choose to surrender their policies to access the cash surrender value in times of financial need.
Insurance agents often explain to clients how the cash surrender value accumulates over time.
