Terminologies used in insurance (premium, face value, market value, maturity value, surrender value) and their meanings
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"premium- it is the price of insurance coverage for a specified risk.
Market value- it is the fair price of something that can be sold in its current condition.
Surrender value- is the amount payable to a person who surrenders a life insurance policy.
Maturity value- it is the amount payable to an investor at the end of holding period.
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Hey ⬇
Your answer ⤵
Premium face value :- Price of Insurance
Market value :- A permanent and fair value
Maturity value :- The price which is left to pay .
Surrender value :- Price paid at the end of the period
______________________✌
Your answer ⤵
Premium face value :- Price of Insurance
Market value :- A permanent and fair value
Maturity value :- The price which is left to pay .
Surrender value :- Price paid at the end of the period
______________________✌
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