2 replies on this article “Is there any Paid up value in Term Plan?”

1. ashalanshu says:

   March 13, 2014 at 10:38 am

   Dear Vijai, pure term plans are just like your Car insurance policy. Every year you pay prem. and in case something happens (your death), the claim amount ‘ll be paid to your nominee in the policy. If nothing happens in between and renewal prem. is not paid on time, the policy lapse. No paid up value is here.

   Thanks

   Ashal

   Reply
2. Viren Phansalkar says:

   March 12, 2014 at 12:01 pm

   Normal term plan do not have any paid up value or surrender value. However, there are few term plans available in market which offers such thing but their prices are too high and does not makes sense.
   If you have already bought one, you can check your policy document. It will have the required information. The document will clearly tell you whether there is any surrender/paid up value.

   Thanks,
   Viren Phansalkar

   Reply

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