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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.

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โˆ™ 2011-04-06 20:39:07
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Q: What does it mean to surrender a life insurance policy?
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Related questions

What is cash surrender insurance policy mean?

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.


If you let a life insurance policy lapse and then later have it reinsted how long do you have to wait before you can sell that life insurance policy?

What do you mean "Sell" the life insurance policy? Once it is back in force and you are the owner, you can cash it in at any time if there is in fact a cash value. I guess you would have to better define what you mean by selling it.


What does life insurance units mean?

An insurance policy that pays a monetary benefit to the insured person's survivors after death.


Can you get a life ins policy on your new husband in the state of new york?

If you mean to ask if you can get a life insurance policy on your new husband WHILE HE IS in the state of New York and you're not there, the answer is no. He has to sign the application. If you mean to ask if you can get a life insurance policy on your new husband AND BOTH OF YOU ARE IN NEW YORK, yes because he can sign the application. If you mean to ask if you can get a life insurance policy on your new husband WITHOUT HIS KNOWLEDGE, the answer is no because he has to sign the application.


Your life insurance policy was approved with a caveant what does this mean?

You mean either covenant or caveat. Either way, you should contact the issuer of the policy.


What does graded benefit mean in a life insurance policy?

payout reflects military rank


Will life insurance pay out for hiv?

If you mean will the life insurance pay if the person dies of AIDS, I would guess yes, but check the policy to be sure.


What does matures mean?

When a life insurance policy matures, this means that it has reached the insured amount. For example, if someone were to take out a $25,000 life insurance policy and continue to pay the premiums, once the policy reached the $25,000 with the payments and dividends, it will have matured.


Can one life insurance policy have two names listed as the policy holder?

Do you mean as owner or as beneficiary? Either way, yes.


What does beneficiary mean for health insurance?

Some health insurance plans offer a AD&D Life Insurance Policy. That is why you would name a beneficiary for a health insurance company.


What does COD mean in a life insurance policy?

In the context of a life insurance policy, it stands for Certificate of Death. It is significant because the occurrence that traiggers the insurer's duty to pay is the death of the insured. The Certiificate of Death is the official documentation of death which will satisfy that requirement of the policy.


Is there a life insurance database showing all life insurance policies?

No, there is not. The amount of insurance, and who has it, is personal information and protected by law. There is a policy locator service database. For a fee, you can find out what applications for insurance were made. They point out that just because someone filed an application does not mean they were actually issued a policy.

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