Sentences with phrase «voluntary termination of the policy»
The money which is guaranteed to the Policyholder in the event of voluntary termination of the policy before maturity date is called the Guaranteed Surrender Value.
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Cash surrender value refers to the amount of money that an insurance company will compensate a life insurance or annuity policyholder in case of a voluntary termination of the policy before it matures or the death of the insured.
The money which is guaranteed to the Policyholder in the event of voluntary termination of the policy before maturity date is called the Guaranteed Surrender Value.
Not exact matches
The surrender (voluntary termination) of a life insurance policy involves the payment by the insurer, prior to the death of the insured, of the accumulated cash value of a whole life policy.