GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Payment to the policyholder at the end of the stipulated term of the policy is called ____
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Sum Assured
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Paid-up value
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Maturity Claim
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Surrender Value
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Explanation:
Detailed explanation-1: -The claim for which a policyholder/life insured can apply for after surviving the complete policy term is called maturity claim.
Detailed explanation-2: -Your coverage ends if you outlive your term life policy. Before it expires, you can choose to convert your policy to permanent insurance, buy a new policy, or go without coverage.
Detailed explanation-3: -The death benefit is an amount that the insurance company provides to the nominee on the unforeseen demise of the life assured on the other hand the maturity benefit amount is an amount which the insurance company has to pay to the policy holder in the of their life insurance policy being matured.
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