Endowment Life Insurance

674 Views  ⚫  Asked 6 Years Ago
asked on Nov 25, 2014 at 19:37
Upon maturity of my life endowment policy, the insurer use the Sum Assured (SA) in the calculation of the final sum I am entitled to instead of the Cash Surrender Value (CSV)(in short, this should be the cash value) that was accumulated in my policy. In my view, the insurer chose to do it this way because the CSV is higher than the SA. I believe their action violates the Insurance Law. Can anyone throw some lights onto this for me please.
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