Vincent owns a $200,000 non-participating whole life policy with a CSV of $50,000. He would like to surrender the policy and asks his agent how much he will receive; his agent replies: Vincent owns a $200,000 non-participating whole life policy with a CSV of $50,000. He would like to surrender the policy and asks his agent how much he will receive; his agent replies: $50,000 less taxes $200,000 less taxes $50,000 tax-free $200,000 tax-free