Cash Surrender Value Clause Samples
The Cash Surrender Value clause defines the amount a policyholder is entitled to receive if they choose to terminate a life insurance policy before its maturity or the insured event occurs. This value is typically calculated based on the premiums paid, minus any applicable fees or outstanding loans, and may increase over time as more premiums are paid. The core function of this clause is to provide a clear, predetermined payout option for policyholders who no longer wish to maintain their policy, ensuring transparency and financial flexibility.
Cash Surrender Value. The Cash Surrender Value, while the Annuitant is living and before the Annuity Commencement Date, is determined as follows:
Cash Surrender Value. The Contract Value less any applicable surrender charge and any loan balance.
Cash Surrender Value. This Policy does not have any cash surrender value.
Cash Surrender Value. The Cash Surrender Value of this Policy is equal to the Policy Value less the sum of any Policy Debt and the surrender charge. The surrender charge will not exceed the maximum shown on the Policy Schedule Pages (page 4).
Cash Surrender Value. The Cash Surrender Value is the amount of Proceeds payable if You Surrender this Contract during the Surrender Charge Period, and is equal to the greater of:
Cash Surrender Value. The Cash Surrender Value is the Contract Account Value, less any applicable Surrender Charge. The Cash Surrender Value will be determined on the date we receive your Written Notice for surrender and this Contract at our Service Center. You may surrender this Contract for its Cash Surrender Value at any time before the earlier of the death of the Annuitant or the Maturity Date. You may elect to have the Cash Surrender Value (less any applicable deduction for premium tax) paid in a single sum or under a Payment Option. This Contract ends when we pay the Cash Surrender Value or apply such sum under a Payment Option.
Cash Surrender Value. The Cash Surrender Value is determined as follows:
Cash Surrender Value. The cash surrender value before the annuity commencement date, is determined as follows:
Cash Surrender Value. The Cash Surrender Value on any day is equal to the Accumulated Value less the sum of:
1) Any Debt; 2) The amount, if any, needed to cover unpaid Monthly Deductions; and 3) The Decrease Charges (see Section 6.3) if any, applied on that day. The Cash Surrender Value on a Monthly Anniversary is determined without regard to the Monthly Deduction for that date. Cash Surrender Values are not less than the minimum values required by law.