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Simple English definitions for legal terms

cash surrender value

Read a random definition: quasi-corporation

A quick definition of cash surrender value:

Cash surrender value: When you have an insurance policy and you decide to give it up, the insurance company will give you some money back. This money is called the cash surrender value. It's like getting a refund for the extra money you paid into the policy. But sometimes, the insurance company will take a little bit of the money back as a fee for giving up the policy.

A more thorough explanation:

Definition: Cash surrender value is the amount of money that an insurance policyholder receives when they surrender their policy back to the insurer. This value is calculated by subtracting the cost of insuring the policyholder from the excess level of premiums that have been paid by the policyholder. There may also be a surrender charge deducted from the cash surrender value.

Let's say that John has been paying premiums on his life insurance policy for 10 years. He decides that he no longer needs the policy and wants to surrender it to the insurer. The cash surrender value of his policy is $10,000. This means that John will receive $10,000 from the insurer in exchange for surrendering his policy.

This example illustrates how the cash surrender value is the amount of money that a policyholder receives when they surrender their policy. In this case, John is giving up his life insurance policy and receiving $10,000 in return.

cash method of accounting | cashier's check

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18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
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