Kindlustatu annab kindlustusandjale poliisi tagasi enne kindlustuse täielikku realiseerumist. Tavaliselt antakse poliis kindlustusseltsile tagasi füüsiliselt kas sularaha eest või pikendatud täielikult tasutud poliisi eest.
surrender value - the sum of money given by an insurance company to the insured on a life policy that is cancelled before it has run its full term
Any assumptions made by insurance and reinsurance undertakings with respect to the likelihood that policy holders will exercise contractual options, including lapses and surrenders, shall be realistic and based on current and credible information.
