A) Granting a loan
B) Revival of the policy
C) Both A & B
D) None of the above
✅ ANSWER: C
A loan-cum revival would mean Granting a loan and Revival of the policy. If a policy acquires the surrender value, the date of the policy can be revived by a policy loan. The loan amount will be calculated and treated as premiums paid upto the date of the revival. If a loan amount is more than the required revival, the excess will be paid to the policyholder.
A loan-cum revival would mean Granting a loan and Revival of the policy. If a policy acquires the surrender value, the date of the policy can be revived by a policy loan. The loan amount will be calculated and treated as premiums paid upto the date of the revival. If a loan amount is more than the required revival, the excess will be paid to the policyholder.