The amount that a policyholder receives when he or she cashes in an insurance policy is called the

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The surrender value is the amount that a policyholder receives when they voluntarily terminate a life insurance policy and surrender it back to the insurer. This amount may be less than the total premiums paid, as it can include fees and charges deducted by the insurer. The cash value refers to the amount of money that accumulates in a whole life insurance policy and can be borrowed against or used to pay premiums. The face value is the death benefit amount of a life insurance policy. The policy value and fair market value are not commonly used terms in the context of life insurance.

The Amount That a Policyholder Receives When He or She