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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. Cash-Surrender Value The amount of cash that becomes available to an insured person upon the cancellation of his/her insurance policy. Most often, this applies to the savings portion of a canceled whole life policy. This value is considered an asset and can be borrowed against or used as collateral. It may also be called a cash value or a surrender value. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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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. |
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