How to claim money for the discontinued insurance policy. I started a Insurance plan on year 2009 and due to some reasons i did not continue that insurance plan. Is it possible to claim the money I paid once around 2 years back.
Professional Answers on Investments
Insurance, Mutual Funds, Sensex, Nifty, Financial Planning
How to claim money for the discontinued insurance policy. I started a Insurance plan on year 2009 and due to some reasons i did not continue that insurance plan. Is it possible to claim the money I paid once around 2 years back.
Until a policy is continued for 3 (FULL) years , it does not get a surrender value.
Go to the insurance company and ask them what is the best thing to do.
It seems you did not pay premium for 3 full years, since commecement. So you may not get back your money. The best option for you is to revive the policy. If it is a LIC policy, there must be easy options to revive it. Please check with your branch for more clarity.
No. you will get nothing. as 3 years payement is necessary for surrender
LIC is best in settling claims. Others will not yield unless an appeal is mad e to IRDA. What is the right for a man to keep you money for lapse of payment.