Hi
I took housing loan 3yrs back and the agent told me that the loan will be sanctioned for 10L only if i take ULIP for 25,000 rs. And also he said its enought to pay only for 5 yrs,so i also agreed. but now when i saw my policy details i was shocked that my policy term is 20 yrs. policy cover is for Rs 10L.
i have paid 3 yrs policy amount of rs 25,000 each and my fund value now is Rs.54,000 only 🙁
As i registered myself with Action month want to close this ULIP by this month. i am planning to go HDFC office as i am not getting any response by mail.
1. Can you please tell me what are all the details i need to ask them if i want to surrender my policy.
2. Or is there any option i can stop paying the policy amount going forward without touching the fundvalue (i will not take out any thing from my fund just keep it as it is)?
3. Please suggest me action to be taken from my side.
Thanks a lot in advance !!!
Regards
Maha