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- What does it mean to surrender an insurance policy?
What does it mean to surrender an insurance policy?
Go to dashboardSurrender is a request made by a policyholder to exit from the policy before its maturity.
How much money will I receive if I surrender my policy?
The surrender value of a policy depends on various factors like the number of premiums paid, premium amount, etc. The surrender value of a policy is computed as per the surrender clause mentioned in the policy terms and conditions.
What are the consequences of surrendering a policy?
When a policy is surrendered, certain charges are deducted from the policy and the remaining amount is paid to the policyholder. Also, as the policy gets terminated, it is no more in force and therefore no terminal benefits such as death benefit or maturity benefits are provided. It is hence advisable to stay invested through the whole period of the policy term to maximize policy benefits.
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