What does Cash Surrender Value mean? Read on to discover the definition & meaning of the term Cash Surrender Value - to help you better understand the language used in insurance policies.
Cash Surrender Value
Cash surrender value (CSV) refers to the amount of money that an insurance company will compensate a life insurance or annuity policyholder in case of a voluntary termination of the policy before it matures or the death of the insured. It is a feature available in most permanent life insurance policies with a savings component.
We hope the you have a better understanding of the meaning of Cash Surrender Value.