Search Results for: whole life insurance

cash surrender value

Insurance. The amount of money payable when an insurance policy having cash value, such as a whole-life policy, is redeemed before maturity or death. — Abbr. CSV. — Also termed surrender value. [Cases: Insurance 1957, 2037. C.J.S. Insurance §§ 518–519, 742–745, 749–754.]

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benefit

glossary / BENEFIT

benefit, n. 1. Advantage; privilege (the benefit of owning a car). 2. Profit or gain; esp., the consideration that moves to the promisee (a benefit received from the sale). — Also termed legal benefit; legal value. Cf. DETRIMENT(2). death benefit. (usu. pl.) A sum or sums paid to a beneficiary from a life-insurance policy on

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