Early Termination

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Definitions
Surrender Value
Surrender Value Life Insurance Insurance Policies Early Termination Premiums Administration Expenses
The surrender value is the sum of money given by an insurance company to the insured on a life policy that is canceled before it has run its full term. The amount is calculated approximately by deducting from the total value of the premiums paid any costs, administration expenses, and charges for life-assurance cover up to the cancellation date.
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