- The amount payable to a person who surrenders a life insurance policy.More 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.
More definitions of surrender valueDefinition of surrender value in:
- The US English dictionary