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What Is The Cash Surrender Value In A Life Insurance Policy?

What is the cash surrender value in a life insurance policy?

Legal Definitions - Question 35
The cash amount that builds up in a permanent life insurance policy. You can take a loan against the cash value of your policy. If you cancel your policy, you get the cash value.
Whole life, variable life and universal life are types of life insurance that have cash value.

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I am the beneficiary of my mother’s life insurance policy. When she passed away at the age of 69, the insurance company denied me the $200,000 benefit amount, accusing my mother of giving fraudulent answers when she had first purchased the policy over 15 years ago. They have mailed me a cheque in the sum of $30,000, the total premiums she had paid over the years. What should I do?

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