Surrendering ULIP Policy – SBI life

POSTED BY karthik ON September 3, 2012 5:58 pm ONE COMMENT

Hi

I need advise on below issue.

My uncle bought the SBI ULIP insurance on 31-MAR-2007 for annual premium of Rs30000. He discontinued the product after two years. Currently its fund value is around 50,000.

Can he surrender this policy or wait till he get the capital amount back?

Product: UNIT PLUS II regular
Commencement date: 31-MAR-2007
Fund value: 50000
Total invested amount: 60000
NAV: Rs. 20 (as of today)
Every month deduction: around 3-4units

Please advise.

One reply on this article “Surrendering ULIP Policy – SBI life”

  1. Dear Karthik, as your uncle had paid only 2 prem. please check with SBI Life ins. for applicable charges if any if he opts to surrender. If the charges are near zero, he may redeem the amount & should reinvest the same elsewhere.

    Thanks

    Ashal

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