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Surrender Value

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Cash 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 surrender value or a surrender value.
surrender value
See cash surrender value.
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But if it's a whole of life policy then it could have a surrender value - the amount depends on the company you have taken it out with.
Dear Tricia; Need some financial advice? Your Money editor Tricia ... by The Mirror (London, England)
My recommendation would be to see what the surrender value is and what you are being offered by someone wanting to buy the policy first, remembering terminal bonuses would not usually be included in the surrender figure.
Soldier on or gain from surrender by 7 Days (Dubai, United Arab Emirates)
An LIS could sell in a tremendously robust secondary marketplace for proceeds as high as 200 or 300 percent of its cash surrender value (CSV).
Understanding the Tax Implications of Life Settlements by Chris Spears / Finance and Investment community
 
 
 
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