Question

What does surrender mean?

a.

A change in the investment pattern of the policyholder

b.

Complete withdrawal or termination of the entire policy

c.

A facility allowing policyholders to switch between segregated funds

d.

The entitlement to revive a discontinued policy

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (b).Complete withdrawal or termination of the entire policy Explanation:Surrender refers to the complete withdrawal or termination of the entire policy.

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