Question

terminologies ( premium face value market value maturity value surrender value )and their meanings used in insurance​

Answer 1

Answer:

Explanation:

face value-is the actual basic price -100

premium means above the face value-100+20=120

maturity value-the value at which it end/expire/or liquidate(converted into cash)

surrender value- the cash amount offered to the policyholder upon voluntarily 'surrender' cancellation of the contract.