Net cash surrender value definition

Net cash surrender value means the maximum amount payable to the policyowner upon surrender.

Net cash surrender value means the cash surrender value of the Policy, less the amount of any then existing loans or withdrawals against the Policy obtained by the Owner. As used in this Agreement, the term "the aggregate amount of cumulative premiums paid by the Company" shall mean the aggregate amount of premiums paid by the Company net of any repayment to the Company of such amount.

Net cash surrender value when used in this Agreement shall mean the gross value as determined by Insurer less any outstanding loans made to Corporation and interest then due on such loans.

Examples of Net cash surrender value in a sentence

• Net cash surrender value is the cash surrender value minus outstanding policy debt.

• Life Insurance: Net cash surrender value or net cash withdrawal value up to a total of $100,000 under one or more policies on any one life; or Death benefits up to a total of $300,000 under one or more policies on any one life; or Total benefits up to a total of $5,000,000 to any owner of multiple non-group life policies.

• Life Insurance:• Net cash surrender value or net cash withdrawal value up to a total of $100,000 under one or more policies on any one life; or• Death benefits up to a total of $300,000 under one or more policies on any one life; or• Total benefits up to a total of $5,000,000 to any owner of multiple non-group life policies.

• Life Insurance:• Net cash surrender value or net cash withdrawal value up to a total of $100,000 under one or more policies on a single life; or• Death benefits up to a total of $300,000 under one or more policies on a single life; or• Total benefits up to a total of $5,000,000 to any owner of multiple non-group life policies.

• Life Insurance: ▪ Net cash surrender value or net cash withdrawal value up to a total of $100,000 under one or more policies on a single life; or▪ Death benefits up to a total of $300,000 under one or more policies on a single life; or▪ Total benefits up to a total of $5,000,000 to any owner of multiple non-group life policies.

More Definitions of Net cash surrender value

Net cash surrender value means the maximum amount payable to the policy owner upon surrender.

Net cash surrender value means the cash surrender value less any indebtedness under the policy.

Net cash surrender value means the accumulation value on any valuation date, less any surrender charges and less any outstanding policy debt.

Net cash surrender value means the maximum amount payable to the policyowner up- on surrender.

Net cash surrender value means the accumulation value on any valuation date less any outstanding policy debt.

Net cash surrender value means the accumulation value on any valuation date less any outstanding policy debt and less any overdue monthly deductions.

Net cash surrender value means, with respect to the Policy, and as of any particular date, the excess of the cash surrender value of the Policy over any outstanding indebtedness incurred by the Company and secured by the Policy, including any interest due on such indebtedness.