"Policy termination" refers to the ending or cancellation of a policy, agreement, or contract. It means that the terms and coverage provided by the policy will no longer be in effect. Full definition
Policy loans and automatic premium loans, including any accrued interest, must be repaid in cash or from policy values upon policy termination or the death of the insured. (northwesternmutual.com)
What is the termination period of the policy and what surrender benefits are provided on policy termination? (policybazaar.com)
You can surrender the policy to the insurance company, but are you aware about the surrender value attached to this premature policy termination? (policybazaar.com)