Question

What is the minimum guaranteed surrender value for policies surrendered between the fourth and seventh year of the policy?

a.

40% of the total premiums paid

b.

50% of the total premiums paid

c.

60% of the total premiums paid

d.

70% of the total premiums paid

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (b).50% of the total premiums paid Explanation:The regulation stipulates that the minimum guaranteed surrender value for policies surrendered between the fourth and seventh year of the policy is 50% of the total premiums paid less any survival benefits already paid.

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Q. What is the minimum guaranteed surrender value for policies surrendered between the fourth and seventh year of the policy?
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