Human life value
Loan value
Paid up value
Monetary value
✅ The correct answer is C.
Surrender value is a %age of Paid up value. Surrender value is the amount payable to the policyholder should he decide to discontinue the policy and encash it. It is payable only after three full years’ premiums have been paid to the insurance company.
Surrender value is a %age of Paid up value. Surrender value is the amount payable to the policyholder should he decide to discontinue the policy and encash it. It is payable only after three full years’ premiums have been paid to the insurance company.