what is maintainning fund valve?

if i am paying 10k in ulip for 3 yrs & term is for 10 yrs. but my policy gets discontinued aft 3 yrs because of not maintainning fund valve at the 3rd yrs as i go to with draw my amount. when i suppose to get my return amt as i said by agent. what is that?

2 Replies to “what is maintainning fund valve?”

  1. The agent informs you that for a term of 10 years the premium paying period is only 3 years, but insurance cover will continue for 10 years.

    What he does not inform you is that the insurance company will deduct charges for the remaining 7 years from your accumulated fund by cancellation of units.

    Hence your fund value will keep on decreasing. If this value falls below a certain limit, the company will discontinue your policy or risk cover.

    You will get back what ever is remaining in the fund at market value.

    Enjoy your ULIP !!!!!!!!!!!!!!!!!

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