Cash surrender value

{
  "id": "MLC-T-LAW-000882",
  "term": "Cash surrender value",
  "field": "Law",
  "definition": "The amount of money a policyholder receives if they voluntarily terminate a permanent life insurance policy before its maturity or the insured's death. This value represents the accumulated savings component of the policy, minus any surrender charges or outstanding loans. It is typically available in whole life or universal life policies, but not in term life insurance.",
  "url": "https://mlchart.com/terminology/law/cash-surrender-value/"
}