cash surrender value


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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"
References in periodicals archive ?
Through the Equitable Bank CSV Line of Credit, Empire Life policy owners can borrow up to 90 per cent of the cash surrender value of their insurance policies without making ongoing payments and affecting the growth of their policy.
The living benefits may be availed of through any of four nonforfeiture benefit options: a) loan value, b) extended term insurance, c) paid up insurance, and d) cash surrender value.
The Equitable Bank CSV Line of Credit is intended to allow policy owners of BMO Insurance Whole Life to borrow up to 90 percent of the cash surrender value of their insurance policies without making ongoing payments and affecting the growth of their policy.
Active and inactive members whose maturity or cash surrender value claim proceeds have been reduced due to deducted arrears in premium can likewise expect a refund,' the GSIS chief added.
While this type of insurance is legal, the PBGC argued that Kushner and Spitz valued the policies at the net present value of the future death benefits instead of their cash surrender value. PBGC aims to right the damages from this investment as well as the invested pension money in the Register's former parent company, Freedom Communications, in an investment with a Luxembourg hedge fund known as Topaz, and an investment in a loan scheme to a mass of life insurance trusts.
The firm will have more than 750 clients with over 45,000 policies totaling in excess of $11B of cash surrender value. The new organization will consist of 35 corporate employees, located on the 3rd floor of 411 South State Street, Newtown, PA.
The firm will have more than 750 clients with over 45,000 policies totaling in excess of USD 11bn of cash surrender value. The new organisation will consist of 35 corporate employees.
A DFS market conduct examination, which was initiated following consumer complaints, found that Athene did not provide required information to about 15,000 policyholders, including premium notices, annual reports or cash surrender value notices, and annual privacy notices from 2015 to 2017.
Amounts received in excess of the tax basis up to the amount of the cash surrender value are taxed at ordinary income rates; and
Most insurance companies allow policyholders to borrow up to the policy's cash surrender value, minus the interest the insurer will charge for the loan.
Cash surrender value, or nonforfeiture value, is the sum of money an insurance company will pay a policyholder if he or she decides to cancel the policy before it expires or before he or she dies.
Any change in the benefits under a life insurance contract or in other terms of the contract (other than automatic increases such as change due to the growth of the cash surrender value, payment of guideline premiums, or changes initiated by the company) that was not reflected in any earlier determination or adjustment will require a redetermination as to whether the definitional guidelines of IRC Section 7702 are still satisfied.