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Question: Select the expanded form of SV as commonly used in life insurance

Options:

  1.  Summary Valuation
  2.  Selected Value
  3.  Surrender Value
  4.  Stamp Value
  5.  Survivor Value

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3. Surrender Value

The expanded form of SV as commonly used in life insurance is 'Surrender Value'.


More info:

Surrender Value is the minimum guaranteed amount of Surrender Value payable to the policyholder on surrender of the policy.

The full form of SV is 'Surrender Value' as commonly used in life insurance.

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