surrender value is the amount payable if the insured

Assessment: WAEC SSCE - Insurance - 2016 (Objective) Subject: Insurance

Question 1 Report

surrender value is the amount payable if the insured

Answer Details
Surrender value is the amount payable to the insured if they choose to discontinue their life policy. Essentially, if the policyholder decides they no longer want to continue with their life policy and choose to surrender it, they will receive the surrender value as compensation for ending the policy.

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