n NISM Certifications
NSM General NISM
Medium

What is Guaranteed Surrender Value (GSV) in a life insurance policy?

Practice question from IC 38 Mock Test 7 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    The maximum surrender value offered by insurers

  2. The surrender value payable if premiums have been paid for at least two consecutive years

    Correct answer

  3. C

    The surrender value calculated based on the policy's cash value

  4. D

    The value of the policy at maturity

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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