cash surrender value

cash surrender value

Insurance. The amount of money payable when an insurance policy having cash value, such as a whole-life policy, is redeemed before maturity or death. ¡ª Abbr. CSV.

¡ª Also termed surrender value. [Cases: Insurance 1957, 2037. C.J.S. Insurance ¡ì¡ì 518¨C519, 742¨C745, 749¨C754.]


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