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?

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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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