Human life value
Loan value
Paid up value
Monetary value
Answer is Right!
Answer is Wrong!
The correct answer is: C. Paid up value.
Surrender value is the amount of money that an insurance company will pay you if you cancel your policy before it matures. It is usually a percentage of the paid-up value of the policy, which is the amount of money that you would have if you had paid all of the premiums and allowed the policy to mature.
The other options are incorrect because:
- Human life value is the value of a person’s life, which is not something that can be calculated or insured.
- Loan value is the amount of money that an insurance company will lend you against the value of your policy.
- Monetary value is the value of something in terms of money, which is not necessarily the same as its surrender value.