cash surrender value (CSV) definition

cash surrender value (CSV)

Amount the holder of a life insurance policy (that has cash value) is entitled to receive, on its surrender (cancellation) before the death of the insured or before the policy matures. This sum is based on the insurance premium paid up to the surrender date less surrender fee. Also called cash value or surrender value, it may be used as a collateral for borrowing from the insurance company or a bank.

cash surrender value (CSV) is in the General, Marine, & Life Insurance and Investing subjects.

cash surrender value (CSV) appears in the definitions of the following terms: surrender value, automatic premium loan clause, cash value, whole life insurance and policy loan

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