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Surrender: If you no longer need life insurance coverage, surrendering the policy provides you with the the cash surrender value (the accumulated cash value less surrender fees or loan balances).
The determination of the cash value, both the base amount and the applicable surrender charge, in the contract can be explicit by determining the value for each surrender date (guaranteed cash values), by referring to the value of specific investments or subject to the discretion of the insurance company, which is often executed to bring cash values in line with values of the investments of ...
You’ll receive the cash surrender value, which is the cash value minus any outstanding loans and applicable surrender fees. If the cash value you receive exceeds the total amount you’ve paid ...
What Is the Cash Surrender Value? With this in mind, here is everything you need to know about your life insurance policy’s cash surrender value and what you should consider before canceling ...
Universal life insurance (often shortened to UL) is a type of cash value [1] life insurance, sold primarily in the United States.Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest.
A life settlement or viatical settlement (from Latin viaticum, something received before death) [1] is the sale of an existing life insurance policy (typically of seniors) for more than its cash surrender value, but less than its net death benefit, [2] to a third party investor. [3] Such a sale provides the policy owner with a lump sum. [4]
Variable universal life insurance (often shortened to VUL) is a type of life insurance that builds a cash value. In a VUL, the cash value can be invested in a wide variety of separate accounts, similar to mutual funds, and the choice of which of the available separate accounts to use is entirely up to the contract owner.
Certified pre-owned value: A certified pre-owned value is the value of a vehicle that has been inspected by third-party inspectors. Vehicles backed by certified pre-owned factors include a factory ...