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1 definition found
 for surrender value
From The Collaborative International Dictionary of English v.0.48 :

  Surrender \Sur*ren"der\, n.
     1. The act of surrendering; the act of yielding, or resigning
        one's person, or the possession of something, into the
        power of another; as, the surrender of a castle to an
        enemy; the surrender of a right.
        [1913 Webster]
              That he may secure some liberty he makes a surrender
              in trust of the whole of it.          --Burke.
        [1913 Webster]
     2. (Law)
        (a) The yielding of a particular estate to him who has an
            immediate estate in remainder or reversion.
        (b) The giving up of a principal into lawful custody by
            his bail.
        (c) The delivery up of fugitives from justice by one
            government to another, as by a foreign state. See
            Extradition. --Wharton.
            [1913 Webster]
     3. (Insurance) The voluntary cancellation of the legal
        liability of the company by the insured and beneficiary
        for a consideration (called the
     surrender value).
        [Webster 1913 Suppl.]

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