What is the surrender value of my policy?
Asked a year ago
The surrender value of your policy is the amount of cash that you will receive if you surrender or cancel your policy before its maturity date. It represents the savings component of your insurance policy and is based on the premiums you have paid and the time the policy has been in force. The surrender value is determined by various factors including the type of policy, the length of time it has been active, and any applicable fees or charges. It is important to note that the surrender value may be subject to a reduction or surrender charge, which can impact the final amount you receive. To obtain specific information about the surrender value of your policy, it is advisable to contact a representative from Penn Mutual who can provide you with accurate and personalized details.
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