Withdrawing Policy before Maturity

1. 

   Anonymous
   

   Unregistered
   
   

   Reputation:0

    

   I purchased this ULIP Plan from Birla Sun Life called - Platinum Advantage Plan with a payment terms of 5 Years.
   Its been around 7 month i am paying the premiums on a monthly mode.

   However i am not happy with the services/benefits/returns and would like to completely withdraw the policy.

   Can anyone let me know what is the procedure of doing so and how much amount will be deducted.

   Thanks
   Niraj Jha

   Posted 7 months ago #
2. 

   devanand
   

   senior admin
   Joined: Jun '09
   Posts: 101

   Reputation:104

    

   Niraj,

   ULIP policy has lock-in-period for minimum 3 yrs.
   During such period the policy has to be kept in-force (in general).

   But if, one want to discontinue with it then an official surrender application has to be submitted with insurer alongwith original policy bond.

   Policy proceeds as on date of surrender (i.e that day's nav value) will become payable but only on completion of 3rd year of the policy and after full adjustment of surrender and other charges as applicable.

   For charges refer policy bond and its terms and condition.

   IBS

   Posted 7 months ago #

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