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cash surrender value

   Also found in: Legal, Financial, Acronyms, Wikipedia 0.02 sec.
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.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
amount, amount of money, sum, sum of money - a quantity of money; "he borrowed a large sum"; "the amount he had in cash was insufficient"


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? Mentioned in ? References in periodicals archive
 
A life settlement turns insurance assets into cash, giving the original policyholder an amount greater than the cash surrender value in exchange for ownership of the policy.
Thirteen other states require that if the insured is not the policyowner, a dependent must be the owner of the policy for the cash surrender value to be exempt.
In the rulings, the IRS held that the employee was taxable on the cash surrender value less the employee's contributions, in the year the employer transferred the policy to the employee.
 
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