what is cash surrender value 
cash surrender value applies to the savings element of whole life insurance policies this value is payable before death overall it s the accumulated portion of a permanent life insurance policy s cash value that is available to the policyholder upon surrender of the policy depending on the age of the policy the cash surrender value could be less than the actual cash value the bottom lineunderstanding your choices with a nonforfeiture clause can help you determine which option is best for your financial situation and goals whether it s an extended term policy cash surrender value or another option consider consulting a financial advisor who can guide you on choosing an option that will best fit your circumstances 