cash surrender value
- noun
- Specialized
:
valor de rescate en efectivo
- In an example of how it might work, The Hartford says a variable annuity with a Lifetime Income Benefit II payment base of $100,000 will have a cash surrender value now of $80,000 compared with $60,000 before the offer.
Examples
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If you cancel your life insurance policy, the cash surrender value is the amount you will receive from the insurer.
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Every annuity has a cash surrender value, and the difference to customers could be tens of thousands of dollars, though they give up the steady payments an annuity provides.
Blog text (5) -
This would include their home, furnishings and fixtures, vehicles, cash balances, cash surrender value of any insurance policies, real estate investments, stocks, bonds, and essentially every other asset that a taxpayer owns.
Blog text (16) -
Before cancelling your policy, check the cash surrender value to understand how much money you can recover.
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The cash surrender value of my life insurance policy helped me cover unexpected expenses when I needed it most.
How Much
Surface Forms
Morphology
The phrase is compositionally transparent: 'surrender value' denotes the value when you surrender (give up) a policy and 'cash' specifies that this value is paid in money. A B1 learner who knows 'cash', 'surrender', and 'value' can reasonably infer it means the amount of money received upon surrendering the policy, and the construction mirrors straightforward noun-compounding patterns found in many languages.
Etymology
Cash surrender value comes from the idea of giving the policy back (surrender) to the insurance company and getting money (cash) for its worth (value). That's why it means the amount the company pays you if you 'cancel' the policy.