What Does Surrender Value Mean On Life Insurance?

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    Peggy Mace
    Most of the U.S.
    Surrender value on life insurance is the amount of cash that you would receive if you were to cancel your policy. It usually only applies to permanent life insurance, since term life insurance does not usually have cash value. It is the amount of cash value in the policy, minus fees and surrenders charges.
    Answered on August 11, 2013
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