cash value option

The right of a life-insurance policyholder to surrender the policy for its cash value at a specified time or at any time. [Cases: Insurance 1950, 2037. C.J.S. Insurance §§ 518–519, 742–745, 749–754.]
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双语律师李明,国际知名法学院法律专业,擅长翻译各类与政府监管相关的法律文件。
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