Economics · Insurance
Identify the option that can be termed as 'Policy Withdrawal' in life insurance terminology.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Policy downgrade to a lower sum assured
- 2Policy upgrade to a higher sum assured
- 3Discontinuation of premium payment by the policyholder
- 4Surrender of the policy in return for the acquired surrender value✓
Correct answer
Surrender of the policy in return for the acquired surrender value
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