What does "no surrender value" mean on my term life insurance?

Term insurance does not gain a cash value. Which means that you would not be able to pull out any money at the end of the term. If you are looking for a policy that you would have a cash value at the end of the term you need to look in to permanent life insurance. It builds a cash value based on the dividends that the company pays out to its policy holders. I would recommend calling a financial adviser to take a look at your situation and figure out what is in your best interests. I have worked with a few different life insurance companies and I like to work with Northwestern Mutual. Good luck!