Reply To: Surrender
Rishabh Surana
In which policies, policy holder can surrender??
Term, pure endowment, whole, endowment?
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You can surrender every type of policy . However , surrender value of the policy depends on the type of policy . Like for term assurance , surrender value is the lowest compared to the other type of policy .
In term insurance , do we get some amount of our money back ?? If we surrender the policy.
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The premium charged for a term insurance plan is the lowest and also company has provided cover till the date of surrender ; so you generally don’t get anything in return.
However , if you have opted for single or limited premium payment option , then in most cases you tend to receive a surrender value.