What Does Life Insurance Cash Surrender Value Mean? 
A whole life policy provides a level death benefit and a level premium payment that extends to the death of the customer . Since the actual number of people who die in a year increases as they become older , the company charges a premium that provides for the death claims in the current year and in future years . This money that accumulates is known as guaranteed cash value . It is guaranteed in the policy . This is the surrender value of the policy . The company will give you the money it has accumulated and you no longer hold the company to the promise to pay the death benefit . 