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The amount payable to a person who surrenders a life insurance policy.
- ‘Companies will also let you withdraw funds and deduct the withdrawal from the policy's cash surrender value.’
- ‘Over two years, the situation has worsened, with the average surrender value coming in at 12% lower than the original investment at £21,954.’
- ‘The assured is then paid the surrender value of the policy, which is calculated by an actuary on the basis of the amounts paid to date.’
- ‘The calculation uses a surrender value for the policy that is much higher than the one I was given a couple of months earlier.’
- ‘A number of firms will buy endowments for more than their surrender value.’
- ‘He made a particularly important contribution by proposing an elegant mathematical formula to determine the surrender value of a life insurance policy.’
- ‘With Irish Life you have to order your surrender value six months in advance.’
- ‘Some will also require the surrender value to be at least £1,500.’
- ‘Because of the poor return on surrendering endowment policies, there is now a market for selling endowment policies - usually at a better price than the surrender value under the policy.’
- ‘You could try the second hand market as well to see if you could get a better price from a market maker than on the surrender value.’
- ‘This means that there may be a tax liability if the cash surrender value exceeds the adjusted cost base of the policy, although the donation credit will likely outweigh this.’
- ‘The second tier is the excess of settlement proceeds over the surrender value.’
- ‘Also included is the declaration of acceptance note which must be signed and forwarded within one month to guarantee the surrender value quoted.’
- ‘Are you defining the surrender value of your policies upfront?’
- ‘Often, this isn't a good idea, as your life assurer will offer you a pretty measly surrender value for your plan, even if it's only a few years from maturity.’
- ‘Just before his first child entered the school, when he sought a surrender value several years into the 14-year policy, he found that the plan was worth only £7,500.’
- ‘The ombudsman uses the current surrender value to estimate whether there has been any loss.’
- ‘Over the past 12 months, however, there has been much more interest from market-makers so that many more policies are being sold at an appreciably higher price than the surrender value.’
- ‘You need to get a valuation of what the policy might produce in two years, and what the surrender value will be now.’
- ‘If distributed, the policy's value for income and gift tax purposes also would be its cash surrender value.’
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