__________ is a voluntary termination of the contract by the policy holders.

Question

Question: __________ is a voluntary termination of the contract by the policy holders.

Options:

1.  Report
2.  Surrender
3.  Prospectus
4.  Cover note

Answer 1

2. Surrender

Surrender is a voluntary termination of the contract by the policyholders.

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Explanation:

Surrender is a voluntary act of termination of the contract before maturity by the policy holders.

When policyholder exit the policy, Surrender Value is the amount the policyholder will get from the life insurance company.