Sentences with phrase «policyholder upon surrender»
Cash surrender value is the accumulated portion of a permanent life insurance policy's cash value that is available to the policyholder upon surrender of the policy.
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Note that there is a «surrender period,» which is the period of time that a policyholder must wait before it is possible to receive the cash value of the policy upon canceling.
As per IRDAI regulations, no surrender charges are levied upon policies if the policyholder chooses to surrender the policy after five years.
A surrender charge is a fee levied on a life insurance policyholder upon cancellation of their life insurance policy.
Upon surrendering the policy after the lock - in period of 5 years, the Fund Value as on the date of surrender is payable to the policyholder.
Upon surrendering the policy after the lock - in period of 5 years, Fund Value under the base policy (including Top - ups) less applicable Discontinuance Charges will be paid to the policyholder.