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Non-contractual surrender values

B

bumblebee

Member
I have just started re-reading through my notes and have noticed that right at the beginning of the course it states that surrender values will usually be a non-contractual, non-guaranteed amount. Is this really true?

I would have thought that payment of any surrender value (which is likely on policies that generate large reserves) would generally have the calculation of a surrender value illustrated in thge policy docs.

At the very least, surely a surrender value in the case of UL policies would be guaranteed? Or am I thinking that insurers are generally kinder than they acutally are!!?
 
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