A policy surrender happens when a policy holder wants to finish up the contract with the insurance company before the policy term. That means he doesn't want to pay or unable to pay anymore premiums to keep the policy in force.
The eligibility for surrendering the policy is
The policy should be inforce for atleast 3 years.
So how much will be paid to the policy holder if he surrenders the policy? The calculation of surrender value depends upon the paid up value of the policy.
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sir,, its very usefullllllll
ReplyDeletesourya