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LSDefine

Simple English definitions for legal terms

Surrender value

Read a random definition: profit insurance

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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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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