bunyyBubbles92461 bunyyBubbles92461
  • 01-09-2020
  • Business
contestada

Under which nonforfeiture option does the company pay the surrender value and have no further obligations to the policyowner?

Respuesta :

topeadeniran2 topeadeniran2
  • 04-09-2020

Answer: cash surrender

Explanation:

Cash surrender is the nonforfeiture option whereby the company pays the surrender value and have no further obligations to the policyowner.

The cash surrender value is the amount of money that is been paid by an insurance company to an annuity contract owner or policyholder in case there's contract termination before maturity. It should be noted that the contract is over once cash surrender value is being paid.

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