September 23, 2012 1:55 pm
I have ING Vysya Chlid Plan ploicy taken in March, If i cancel the policy will I get my money I have paid?
If not what will be outcome if I stop paying the futher payments.
Dear Prasad, please read the policy documents for surrender & paid up clause. If paid up is possible as per your policy doc, inform the insurer that you do not want to continue with the policy. You ‘ll not get anything back immediately but the policy ‘ll be made paid up one & you ‘ll get sone amount at the end of policy term.
In case of surrender, the full amount of 1st yr. prem. ‘ll be forfeited by the insurer. That’s why I’m, not recommending surender.
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