Cash Value, is the amount of money, that a policy-owner will get when he surrenders his policy to the insurer for cancellation.
Section 60(1) of the Insurance Act (Cap. 142), provides for the policy-owner to surrender his policy and be entitled to receive the cash value ONLY AFTER the policy has been in force for 3-years or more.
(click to enlarge the picture)
No comments:
Post a Comment