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Question: Which of the following terms matches closest with ‘Foreclosure’?


  1.  Surrender Value
  2.  Nominee
  3.  Death Claim
  4.  Maturity Claims
  5.  Bonus

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1. Surrender Value

'Surrender Value' is the term that matches closest with ‘Foreclosure’ from the above given options.


Foreclosure is an action of closing the policy due to default in payment of outstanding loan and/or loan interest on due date.

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

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