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GCE Commerce 1990 Question 47

Question 47

Insurance

The amount paid by the insurance company to the insured upon giving up his policy is called

  1. A.Surrender value
  2. B.cash bonus
  3. C.assured sum
  4. D.dividend
  5. E.premium
Show the answer and explanation

Answer: A (Surrender value)

Explanation

Surrender value is paid when a life policy is given up before it matures.