This account value is subject to a large surrender charge with the difference between them being a policy's cash surrender value.

FORBES: Magazine Article

The latter collateral will come into play only where the cash surrender value of the policy is insufficient to meet the debt obligation.

FORBES: Nothing is for Free, Especially Not Life Insurance

Writing 18 years ago in this magazine, he outlined all the things you have to think about in evaluating any product with an investment flavor, which is to say any that has a cash surrender value.

FORBES: Making Life Complicated