Net cash surrender value

{
  "id": "MLC-T-INS-002294",
  "term": "Net cash surrender value",
  "field": "Insurance and risk management",
  "definition": "The amount of money a policyholder receives if they voluntarily terminate a life insurance policy before its maturity or the insured's death, after deducting any outstanding loans or surrender charges. This value represents the accumulated savings component of a permanent life insurance policy. It is typically less than the policy's accumulated cash value in the early years due to surrender charges.",
  "url": "https://mlchart.com/terminology/insurance/net-cash-surrender-value/"
}