There are two options.
a. Visit your nearest insurance company office
b. Talk to your insurance agent/seller
In either case, you will be asked details like your policy number, when you took the policy, premium amount etc. also, cash surrender value is applicable only if you have paid your premiums regularly atleast for a few months/years (depending on type of policy)
The value accrued at the time of surrender of the policy is called cash surrender value of the policy. Generally, before completion of three year period, no life policy can be surredered and hence question of cash surrender values does not arise.
It means you want to cancel the policy. If there is cash value in the policy, surrender charges will be deducted from the cash value and you will get the remaining balance.
Typically it is called "Net Cash Surrender Value". This is the amount of cash value in the policy accumulation account minus any outstanding loans etc. But it is typically referred to as "Net surrender Value" or "Net Cash Surrender Value". Get a good agent and he can explain.
It is worth whatever the net surrender cash value is, which is cash value minus the surrender charge.
What about it?
The value accrued at the time of surrender of the policy is called cash surrender value of the policy. Generally, before completion of three year period, no life policy can be surredered and hence question of cash surrender values does not arise.
It means you want to cancel the policy. If there is cash value in the policy, surrender charges will be deducted from the cash value and you will get the remaining balance.
Typically it is called "Net Cash Surrender Value". This is the amount of cash value in the policy accumulation account minus any outstanding loans etc. But it is typically referred to as "Net surrender Value" or "Net Cash Surrender Value". Get a good agent and he can explain.
You will receive the cash value minus the surrender charges, not the face value of the policy.
There is generally not a special form used for a life insurance policy issued to a physician. That said, if you are concerned with the cash surrender value, a whole life insurance policy (rather than a term life insurance policy) is implicated. The cash surrender value changes (usually increases) as the policy matures. The amount of the cash surrender value is shown on a schedule on the declarations page of the policy. The declarations page is one of the first pages of the policy which identifies the insured, the policy number, the amount of policy benefits and other information.
It is worth whatever the net surrender cash value is, which is cash value minus the surrender charge.
What about it?
There is no cash surrender value since the policy pays only on death. Source: http://www.my-life-insured.com/term-vs-whole.htm
The surrender (voluntary termination) of a life insurance policy involves the payment by the insurer, prior to the death of the insured, of the accumulated cash value of a whole life policy. The cash value is the "savings element" of a whole life policy. Upon surrender, the insurer pays the accumulated cash value less any surrender charges specified in the policy. Reinstatement of the same policy is generally not available after surrender. Instead, the insured must reapply for coverage and meet then-prevailing underwriting standards for his/her current age and health status.
Cash value of whole life insurance is referred to as the "Cash Surrender Value". The cash surrender value is money the policyholder is supposed to receive from the insurance company when surrendering the whole life insurance policy with cash value. The cash surrender value amount due is the sum of the cash value stated in the whole life insurance policy minus any surrender charge and any outstanding loans and interest due on the loans.
When you want to surrender your endowment policy you must have paid premium for at least three years. But there exists another form, the special or cash surrender, which has other conditions.
The company pays the surrender value and have no further obligations to the policy owner under Cash surrender