surrender value

surrender value
The sum of money given by an insurance company to the insured on a life policy that is cancelled before it has run its full term. The amount is calculated approximately by deducting from the total value of the premiums paid any costs, administration expenses, and a charge for the life-assurance cover up to the cancellation date. There is little or no surrender value to a life policy in its early years. Not all life policies acquire a surrender value; for example, term assurance policies have no surrender value.

Accounting dictionary. 2014.

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Look at other dictionaries:

  • surrender value — n: cash surrender value Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. surrender value …   Law dictionary

  • surrender value — Surrender Sur*ren der, n. 1. The act of surrendering; the act of yielding, or resigning one s person, or the possession of something, into the power of another; as, the surrender of a castle to an enemy; the surrender of a right. [1913 Webster]… …   The Collaborative International Dictionary of English

  • surrender value — surrender values N COUNT The surrender value of a life insurance policy is the amount of money you receive if you decide that you no longer wish to continue with the policy. [TECHNICAL] …   English dictionary

  • surrender value — The cash amount received if an insurance policy is cancelled before its maturity date. * * * surrender value surrender value ➔ value1 * * * surrender value UK US noun [U] ► the value of an insurance policy if you end it before its original end… …   Financial and business terms

  • surrender value — The sum of money given by an insurance company to the insured on a life policy that is cancelled before it has run its full term. The amount is calculated approximately by deducting from the total value of the premiums paid any costs,… …   Big dictionary of business and management

  • surrender value — UK / US noun [countable] Word forms surrender value : singular surrender value plural surrender values the amount of money that you receive from a life insurance policy if you decide you want to stop the policy …   English dictionary

  • surrender value — noun : the cash value of an insurance policy that may be taken in cash or applied to the purchase of fractional paid up or extended term insurance * * * surˈrender value 7 [surrender value] noun the amount of money that you get if you end a life… …   Useful english dictionary

  • surrender value — išperkamoji suma statusas Aprobuotas sritis draudimo veikla apibrėžtis Suma, kuri apskaičiuojama aktuariniais metodais, atsižvelgiant į sumokėtų draudimo įmokų dalį, skirtą kapitalui kaupti, sutarties galiojimo metu sukauptas palūkanas, draudėjui …   Lithuanian dictionary (lietuvių žodynas)

  • surrender value — Insurance. See cash value. [1875 80] * * * …   Universalium

  • surrender value — sur render ,value noun count the amount of money you receive from a LIFE INSURANCE POLICY if you decide you want to stop the POLICY …   Usage of the words and phrases in modern English

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