Cash Surrender Value is the amount of cash you’d receive if you decide to cancel your life insurance policy early. It represents your policy’s cash value minus any surrender charges or outstanding loans against the policy.
This value is important because it’s the actual amount you can access if you decide to cash out your policy. Keep in mind, though, surrendering your policy means you’ll lose your coverage, and if you surrender within the early years, fees can significantly reduce the amount you receive.