I bought a ULIP in 2007 and continuing to paying premium till now. I have two questions.
– If I surrender it it now, will the tax deduction claimed this year be added to my income of next year(provided i surrender in april 2011).
– I don’t want that my agent gets any commission from my policy since he is not servicing me any more, last I saw him was in 2008 and secondly since he missold me the policy i don’t want him to get a penny out of my investment.
– Also, If I get his name removed from my policy, what will happen to the commission, who will get it, me or the insurance company?