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Simple English definitions for legal terms

Surrender value

Read a random definition: Federal Bureau of Prisons (BOP)

A quick definition of Surrender value:

Definition: Surrender value is the amount of money you get if you take out some of the money from your life insurance policy. This is only for certain types of policies that have an investment part that grows over time. When you take out money, you have to pay a fee, and the surrender value is the amount left after the fee is taken out. After a while, you can take out money without paying a fee, and then the surrender value and the amount you can take out will be the same.

A more thorough explanation:

Surrender value refers to the amount of money a person would receive if they withdraw money from their own life insurance policy’s cash value.

For example, if someone has a permanent life insurance policy or an annuity, the policy has an investment portfolio part that builds interest over time. The policy owner can withdraw funds from or take a loan against the policy. The amount a policyholder can withdraw from their life insurance policy at any time is called the surrender value.

It is important to note that surrender value is not the same as cash value. The cash value is the amount the policy is worth as it builds over time. When someone withdraws funds from the policy, it often incurs steep fees for early withdrawal, and the surrender value is the amount after the fees have been deducted.

After a period of time set in the policy, the policyholder usually can withdraw the cash value without any fees, in which case the cash value and surrender value would be the same.

For instance, if someone has a life insurance policy with a cash value of $10,000 and they want to withdraw some money from it, they may only receive a surrender value of $8,000 after fees.

In summary, surrender value is the amount of money a policyholder can receive if they withdraw funds from their life insurance policy’s cash value after fees have been deducted.

surrebuttal | surrogate

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TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
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
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