Surrendering New Insurance Policy?

Alchemist

Administrator
Staff member
#2
You can return your life insurance policy till it's in the "free-look period".

Free-look period means the first 15 days after you get the policy document.

You have to inform the insurance company in writing.

Some nominal charges will be deducted, but you will get back most of your premium.

The premium refund will be adjusted for

-proportionate risk premium for the period on cover
-expenses incurred by the insurer on medical examination and
-stamp duty charge
IRDA - Free-Look Period
 
#5
I want to surrender my Anmol Jeevan Plan 1, less then 6 months old as ANMOL JEEVAN 2 and Amulya Jeevan 2 are cheaper by 20-30% so why pay high premium for next 20 yrs.

Can someone help me with surrender procedure and things to be aware of ?
 
#6
I want to surrender my Anmol Jeevan Plan 1, less then 6 months old as ANMOL JEEVAN 2 and Amulya Jeevan 2 are cheaper by 20-30% so why pay high premium for next 20 yrs.

Can someone help me with surrender procedure and things to be aware of ?
For term plan there is no maturity value, so no surrender value.

Just stop paying premium for plan 1 and buy new policy in new plan.
 
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