English to Ukrainian Other Law (general) assets for immigration purposes

A person has life insurance at work (he works as electrical engineer). In case of his death cash of $300,000. is paid to a beneficiary. The person names it "cash surrender value". However, my idea is that "cash surrender value" applies to the amount of money that is paid to the insured person in case of cancellation of the policy. In that particular case, in my opinion, "cash surrender value" is zero because the insured percon cannot cancel the insurance policy (since he is insured by his employer). What do you think?