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Cash-surrender value |
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Cash-surrender value The amount an insurance company will pay if the policyholder tenders or cashes in a whole life insurance policy. |
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? Mentioned in | ? References in periodicals archive | |
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Life settlements (also known as high-worth transactions) provide a viable and attractive option: the company can sell the policy, be rid of any future premium obligation and receive a lump sum in cash well above the cash-surrender value. The IRS is allowing taxpayers to change the future tax exposure of the cash-surrender value in excess of premiums, if they terminate the split-dollar arrangement before 2004 or treat the premiums paid as a loan to the insured. A life insurance valuation determines the fair-market value of a life policy, while a life settlement gives policyowners the ability to access this value by selling their existing policies and receive a cash amount in excess of cash-surrender value. |
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Cash-surrender value
