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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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