Can l cash Out?
✅ Answers
Answerer 1
This would be considered ‘cashing out’ if you let your policy surrender. You will more than likely receive the NET surrender value. Be careful because it could trigger a taxable event. It is best to speak with a tax adviser.
Answerer 2
It’s how much you’d get for cancelling the policy, BEFORE they subtract out all the fees.
Answerer 3
Actually nobody uses that term because your “gross” surrender value would just be the cash value of the policy, which is how it would normally be referred to. Your cash surrender value or net surrender value would be the actual amount of money you’d receive if you cancelled the policy.