Which type of policy can provide surrender value?
A regular premium policy acquires surrender value after the policyholder has paid the premiums continuously for three years.
What is surrendered policy?
In such a scenario, one may wish to terminate the policy before its maturity period instead of holding on to the policy. This is known as surrender of the policy, wherein the surrender value of the policy is paid out to the policy holder.
Can a life policy be surrendered?
Surrendering a life insurance policy means canceling the policy and receiving its surrender value, which is the cash value minus any surrender fees. If you go this route, the coverage ends. Your beneficiaries will not receive a death benefit when you die.
What is floating policy Mcq?
1066. 1660. 18. The policy insures destruction or damage due to discharge of water is called. Floating policy.
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