how much money do insurance people refund on closing the policy. {india}?

i have two insurance policies i have been paying premium of 2400 for past 38 months for each of the policies i would like to close it so how much refund will i get on closing it , the company is max new york life insurance .

how much money do insurance people refund on closing the policy. {india}?
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4 Replies to “how much money do insurance people refund on closing the policy. {india}?”

  1. That kind of depends on the details of the policy. Typically though the payments are refundable on a monthly or daily basis. If it is monthly, then you will receive a refund for however many months you have already paid for but will not be covered for. If it is daily, it will be days.

    2400 / 38 months is about 63 dollars per month. So to get a rough estimate figure out when you last paid the premium, then calculate how many months of coverage you have paid for already but have not used, and multiply it by 63. That’s how much refund youll have.

    Bear in mind though that the details of your policy may be different. Some policies may even have some kind of cancellation charge. Talk to your insurance agent.

  2. hi,this is mud’s whatever ur name is we assume mr x yeah mr x u opt two life insurance policies in the past and already u had paided lots of capital to this max company according to the irda norms if a policy holder quit his policies in between so be ready to suffer from loss. because when u opted this 2 policies there are certain norms which u have to follow till the maturity of the policy and if u quit before that maturity u breaks the whatever the market offer that price that u have to take that leads to loss,thank u

  3. hey Tiger

    You have not given any details of what policy that u own or what policy you want to surrender, forward me the details at
    [email protected]
    add ; surrender policy details in subject line,
    i will tell you exactly what amount you will get back.

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