In new IRDA guidelines for ULIP – Surrender charges (Waived off)?



In new IRDA guidelines for ULIP; for e.g. if a customer pays premium for 4 years & goes for surrender after 6th year(revival period of 2 years). In such case is there any surrender charges applies to him?

In new IRDA guidelines for ULIP – Surrender charges (Waived off)?
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One Reply to “In new IRDA guidelines for ULIP – Surrender charges (Waived off)?”

  1. Sub: Unit Linked Products- Cap on Charges
    Ref: Circular No.20/IRDA/Actl./ULIP/09-10 dated 22 nd July, 2009

    3. No surrender charge can be levied by an insurer for policies surrendered from the 5 th policy year and thereafter and consequently the policyholder will be entitled to receive the full fund value on such surrender.

    The circular No.20/IRDA/Actl./ULIP/09-10 dated 22 nd July, 2009 shall be complied with by all insurance companies with the above modifications

    You will have to revive your policy and then surrender.

    HMT





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