What is the Definition of Surrender Cost Comparison Index?
What is the Definition of Surrender Cost Comparison Index?
A cost comparison index, used to compare insurance policies, which takes into account the time value of money and measures the cost of a policy over a 10or 20-year period assuming the policy owner surrenders the policy for its cash value at the end of the period. Contrast with Net payment cost comparison index.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
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What is the Definition of Surrender Cost Comparison Index?
You can find random definition and meaning of insurance terms below:
What is the meaning of Multi-Peril Insurance
personal and business property coverage combining several types of property insurance in one policy.
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coverage sold to municipalities to guarantee the principle payment on bonds issued.
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liability coverage for the acts of a municipality.
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