GK
INSURANCE AWARENESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the Full form of GIVE?
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Gross Insurer Value Element
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Gross Insured Value Element
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Gross Interest Value Element
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Gross Insurance Value Element
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Explanation:
Detailed explanation-1: -A policyholder can terminate the life insurance before it reaches maturity by surrendering the policy to the insurance company. Once this is done, the insurer pays a cash value known as the policy’s surrender value.
Detailed explanation-2: -Definition: It is the amount the policyholder will get from the life insurance company if he decides to exit the policy before maturity.
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