Policy surrender (exagora)
Surrender is ending a savings or pension policy early and receiving its accumulated value (the surrender value). In the early years the surrender value is usually well below the premiums paid, due to charges and penalties; it rises as the policy matures.
Also known as: Surrender value
Surrender is a decision that looks simple but is often expensive. A plan stopped early may return less than you put in. Before deciding, it is worth seeing the current surrender value, any penalties, and what future benefits you would forgo — and for tax questions, to ask an accountant.
In your life or savings policy, find the surrender-value table: it shows what you receive if you stop early. Read the terms too. PolicyWallet finds these amounts and dates so you can discuss them with your insurance advisor.
Upload your policy — free summaryFrequently asked questions
Why is my surrender value less than what I paid?
The amount depends on the terms, charges and, where invested, the investment value. It is not guaranteed to rise every year. Ask for the current surrender value before deciding.
Related
Educational content, not insurance advice. PolicyWallet explains what the term means and helps you find it in your own document — it does not assert what your policy covers.