Answer-What is the Surrender Value of an insurance policy?

Explanation Surrender Value is the amount that a policyholder receives when they choose to surrender their insurance policy before its complete term. It is calculated using a fixed formula by the insurance company.

Question

What is the Surrender Value of an insurance policy?

A The amount the policyholder receives upon policy expiry.

B The premium amount paid by the policyholder.

C An amount paid to the policyholder when they surrender the policy before its full term.

D The interest earned on the policy amount.

E The tax payable on the insurance policy.

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What is the Surrender Value of an insurance policy?

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