In Order for the Policy to acquire a Guaranteed Surrender-Value (G.S.V.), For How Long, must, the Premiums be Paid, as per the Regulations?
A)2 Consecutive Years
B)4 Consecutive Years
C)3 Consecutive Years
D)5 Consecutive Years

Question

Quizplus · Accepted Answer

As per regulations, a life insurance policy acquires a Guaranteed Surrender Value (G.S.V.) if the premiums have been paid for at least 3 consecutive years. This ensures that the policyholder has contributed a minimum amount of premium to be eligible for a portion of the benefits in case of surrender.

In Order for the Policy to Acquire a Guaranteed Surrender-Value