In the case of a life insurance policy, the remaining
Credit balance after deduction of sales charges, commissions, cancellation fees and other deductions (the value of a life assurance policy after surrender charges and related premium taxes are subtracted from the total accumulated cash value). Since the beginning of 2008, the calculation of surrender value has been subject to more detailed legal requirements, which are monitored by the supervisory authority. – See policy exchange, zillmerization. – Cf. BaFin Annual Report 2007, p. 77 (new regulation § 169 VVG).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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