The Surrender Value of an Insurance Policy Is

Multiple Choice

The surrender value of an insurance policy is

A) the expected payment commitment on existing policy contracts.
B) a fund established and held separately from the company's other assets.
C) the cash value paid to the policyholder if the policy is terminated before it matures.
D) the same as the endowment payout.
E) the price at which the company may repurchase the policy.