surrendarvalue

POSTED BY manjunatha ON June 1, 2011 7:18 am COMMENTS (2)

hi,

I am manjunath i have an insurance policy with ICICI prulife which is cash back plan(money back). due to urgent purpose of money i called to the icici prulife customer care that i need

to surrender my policy. they said that i will get 35% of the premiums without any bonus, excluding the frist year premiums. the policy commenced on 30/09/2006, the term is: 20 years. so, can you give proper information that how much amount i will get if i go for surrender the policy or any other way.

 

reagrds

Manjunatha

 

2 replies on this article “surrendarvalue”

  1. manjunatha says:

    Thank you digamber. if it is possible can you let me know paidup value for my policy?

  2. Digamber Tawde says:

    Hi Manjunatha,

    Surrender value means: if your policy premium is Rs. 10,000 per annum, and you have paid for 6years and you wanted to stop paying premium.

    Rs 10,000 x 6years = Rs 60,000 – 1st year premium (ie., Rs. 10000)

    60000 – 10000 = 50000

    35% on Rs 50,000 means Rs 17,500 is surrender Value for your policy.

    Best Regards
    Digamber

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