Surrender Value refers to the amount that an insurance policyholder is entitled to receive from their life insurance provider when they decide to terminate or surrender their policy before its maturity. This amount represents the cash value of the policy, which includes any premiums paid minus any withdrawals and interest charges. The Surrender Value can be thought of as a refund of the money that has been put into the policy by the policyholder, less any fees or charges incurred during its term.