Question

What does the term "Surrender Value" signify in the context of insurance policies?

A The sum assured by the insurance company upon the policyholder's demise.
B A refund of premiums to policyholders who have maintained their policies for the entire duration.
C An amount paid to policyholders who wish to terminate their policy prematurely, subject to a calculated reduction.
D Additional compensation provided to policyholders who opt for a partial withdrawal from their policy's accumulated funds.
E None of the above
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