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surrender value

Syllabification: sur·ren·der val·ue

Definition of surrender value in English:

noun

The amount payable to a person who surrenders a life insurance policy.
Example sentences
  • Because of the poor return on surrendering endowment policies, there is now a market for selling endowment policies - usually at a better price than the surrender value under the policy.
  • The assured is then paid the surrender value of the policy, which is calculated by an actuary on the basis of the amounts paid to date.
  • This means that there may be a tax liability if the cash surrender value exceeds the adjusted cost base of the policy, although the donation credit will likely outweigh this.

Definition of surrender value in:

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