What is paid by the insurer when the policyholder decides to...

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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.

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What is paid by the insurer when the policyholder decides to discontinue the policy

Solution (By Examveda Team)

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