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      Question

      If you might want to discontinue the policy, and take

      whatever money is due to you. The amount the insurance company then pays is known as?
      A Surrender Value Correct Answer Incorrect Answer
      B Paid-up value Correct Answer Incorrect Answer
      C Sum Assured Correct Answer Incorrect Answer
      D Maturity Value Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      The cash surrender value is the sum of money an insurance company pays to a policyholder or an annuity contract owner in the event that his or her policy is voluntarily terminated before its maturity or an insured event occurs.

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