Surrender value is the amount payable if the insured?

By: |Published on: Oct 17|Categories: Insurance WAEC| 0 comments

A. does not want to continue with the life policy
B. does not want to continue with car insurance
C. died when a policy is valid
D. died when a policy is not valid

Correct Answer: Option A

A. does not want to continue with the life policy

Explanation

‘Surrender Value‘ It is the amount the policyholder will get from the life insurance company if he decides to exit the policy before maturity, usually a whole life policy.

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