cash-surrender value
Definitions from Case Law · United States Supreme Court
Definitions from Case Law
From 312 U.S. 254 - Guggenheim v. Rasquin · 1941Most cited · 318 citing opinions
Cash-surrender value is the reserve less a surrender charge. And in case of a single-premium policy the reserve is the face amount of the contract discounted at a specified rate of interest on the basis of the insured's expected life.
How often courts cite the cases defining “cash-surrender value”
Court decisions citing the 2 opinions that defined “cash-surrender value” — 430 in all, by decade. Counts are citations to the defining cases as a whole, not verified uses of the term. The dip in the most recent years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the latest years.
All 2 definitions, chronological · 1907–1941
- ORIGINAL
This excess in the premium paid over the annual cost of insurance, with accumulations of interest constitutes the surrender value. ... It permits the redemption of a policy by the bankrupt from the claims of creditors by paying or securing to the trustee the cash surrender value of the policy 'within thirty days' after such value 'has been ascertained and stated to the trustee by the company issuing the same.
insurance policy