Surrender

Posted on July 20, 2013July 20, 2013

To give up a Whole Life policy. The insurer pays the insured the cash value which the policy has built up if it is surrendered.

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OPEN COVER

A contract for cargo insurance to cover all shipments from time to time as declared, a certificate of insurance or policy being issued in respect of each. The arrangement is subject to cancellation on notice by either party.