Policy Surrender Value
Definition of Policy Surrender Value
Policy Surrender Value means, with respect to a Participants Policy, the actual cash surrender value of the Policy, net of any applicable surrender charges, that would be available upon a complete surrender of the Policy.
Examples of Policy Surrender Value in a sentence
- If a Participants Agreement terminates under Section 7.01(b) or (c), the Participant (or Assignee) may acquire the Participants Policy from Mattel by paying Mattel an amount equal to the Policy Surrender Value (or any lesser amount determined by the Plan Administrator).