3-22 The cash surrender value of a life insurance policy represents the payment to the insured's beneficiaries at the time of death.

Name: 3-22 The cash surrender value of a life insurance policy represents the payment to the insured's beneficiaries at the time of death.
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The cash surrender value of a life insurance policy represents the amount of money the policyholder will receive if they cancel or surrender the policy before their death, not the payment to the beneficiaries at the time of death.

3-22 the Cash Surrender Value of a Life Insurance Policy