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Today General Knowledge(GK)
If you stop paying the premium, but do not withdraw the money from your policy, then the policy is referred to as_____
A)
Paid-up value
B)
Surrender Value
C)
Sum Assured
D)
Maturity Value

Correct Answer : Option (A) - Paid-up value



Paid up value is the reduced amount of sum assured paid by the insurer in case of discontinuation of the payment of premiums.

Published On : June 2, 2021
Category : Insurance and Finance
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