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Cash Surrender Value (CSV)
Last Updated: Jun 6, 2019
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The total amount of money that an insurance company is contractually obligated to pay if the policyholder voluntarily cancels the policy before its maturity or an insured event occurs. The cash surrender value, also known as "cash value", "surrender value" or "policyholder's equity," refers to the savings component of permanent life insurance policies (predominantly whole life insurance policies).