In Account Summary, the net amount payable to the policyowner if the policy is surrendered to the Company on the specified "as of" date. This value includes any dividends, interest or investment gain/loss credited to date, and is reduced by any outstanding policy loans and loan interest due, any policy charges due and any surrender charges which may apply. A surrender may result in a taxable gain that may be subject to federal and state withholding.

The cash value amount available to a policy owner after adjustments have been made to the cash surrender value to account for policy loans and dividends.

In a life insurance certificate, the amount of money, adjusted for factors such as surrender charges, accumulated loans, accumulated liens and late premiums, that the certificate owner would receive upon cancellation and surrender of his or her certificate. This is also called the cash surrender value.