What is the term for the amount of money a whole life policyholder would receive if the policy were surrendered before death or maturity?

The term for the amount of money a whole life policyholder would receive if the policy were surrendered before death or maturity is known as the cash value. Whole life insurance policies accumulate cash value over time, which represents a savings component of the policy. Policyholders can access this cash value through loans or by surrendering the policy.

The cash value grows at a guaranteed rate and can also produce dividends if the insurer performs well financially. This feature differentiates whole life insurance from term insurance, which does not build any cash value. The other terms listed, such as death benefit, refer to the amount paid to beneficiaries upon the policyholder's death, while premium return and accumulated value do not specifically describe the surrender value of a whole life policy.