Surrender value on traditional policy

POSTED BY Arvind Karkera ON September 1, 2012 10:00 pm ONE COMMENT

Dear Manish,
My daughter has taken Mahagold life policy with TATA AIG.(policy no:C000475680 )

SA:6.5L premium:60kp/a

After paying three years of premiums they are giving a surrender value of only 30% minus first year premiums.
Now TATA Mahagold life is a traditional plan,so isnt below link applicable for the same wherein you should get atleast 50% of the premiums paid?
http://www.indiainfoline.com/Markets/News/IRDA-proposes-minimum-surrender-value-for-traditional-plans/5478445434
 
Please look into the same.

One reply on this article “Surrender value on traditional policy”

  1. Dear Arvind, that gtd. surrender value ‘ll be applicable for policies purchased after the implementation date & not for policies purchased earlier (your d’ter’s case).

    In my opinion, it’s advisable to book losses now & try to invest sensibly from here onwards.

    Thanks

    Ashal

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