What is paid by the insurer when the policyholder decides to discontinue the policy
A. Forfeiture
B. Surrender Value
C. Intermediate Claim
D. Lapse
Answer: Option B
Solution(By Examveda Team)
If a policyholder decides to terminate the policy before maturity, the amount which the insurance company will pay to the policyholder is known as surrender value.Related Questions on Insurance
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