Posted on July 20, 2013July 20, 2013
Used in Life Insurance terminology as a shortened term for non-forfeiture values. See Non-forfeiture Values.
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The amount of cash due to an insured who surrenders Cash Value Life Insurance. Such surrender, with consequent termination of all insurance benefits, is sometimes called “cashing out” or “cashing in” a policy. See also Non-forfeiture Values.
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