surrender value is the amount payable if the insured
-
A.
does not want to continue with the life policy -
B.
does not want to continue with car insurance -
C.
died when a policy is valid -
D.
died when a policy is not valid
Correct Answer: Option A
Explanation
‘Surrender Value’ It is the amount the policyholder will get from the life insurance company if he decides to exit the policy before maturity, usually a whole life policy.