The cash surrender value of a straight life insurance policy equals the face value of the policy at a stated age (usually ninety-five or hundred years),less 10% handling and service charges.

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The cash surrender value of a straight life insurance policy is the amount of money that the policyholder will receive if they cancel or surrender the policy before death. The cash surrender value is determined by several factors, including the length of time the policy has been in force and the total amount of premiums paid. It is not usually equal to the face value of the policy at any age, nor is there usually a specific stated age at which this value is determined. Additionally, handling and service charges may be higher or lower than 10%.

The Cash Surrender Value of a Straight Life Insurance Policy