GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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11:41 Oct 4, 2009 |
Dutch to English translations [PRO] Bus/Financial - Insurance / Insurance software | |||||||
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| Selected response from: Dennis Seine United States Local time: 21:33 | ||||||
Grading comment
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Summary of answers provided | ||||
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4 | request to surrender |
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4 | surrender request |
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3 | termination request (surrendering) |
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termination request (surrendering) Explanation: Voorbeeldzin: "The owner can access the money in the cash value by withdrawing money, borrowing the cash value, or surrendering the policy and receiving the surrender value." "The surrender value of the policy is the amount remaining in the cash account less applicable surrender charges, if any." "If the owner of the policy surrenders it, the insurance company will pay the cash surrender value or remaining investment fund in accordance with the policy terms after withholding any policy loans that may exist at the time of surrender." Reference: http://en.wikipedia.org/wiki/Life_insurance Reference: http://www.nysscpa.org/cpajournal/2007/407/essentials/p60.ht... |
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request to surrender Explanation: From Babylon: buying off/out 〈verzekeringswezen〉 surrender voorbeelden: 1 bij afkoop van de verzekering • upon surrender of the policy Juridisch lexicon: afkoop bij afkoop van de polis on surrender of the policy on surrender of the policy, upon surrender of the policy |
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surrender request Explanation: Why not keep it short and simple? For instance, a policy might say that the date of surrender is when the insurer receives a surrender request from the policyholder. Or, less likely, if the policy only allows surrenders on agreement by the insurer then the date of surrender will be the date that the insurer agrees to the surrender request. http://www.hmrc.gov.uk/manuals/.../IPTM7325.htm |
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