FAQs - Policy Closure
IRDA has now made it compulsory for all policy holders to register their bank account details to receive all policy payouts directly into their bank account.
Documents to register your bank account details:
I. Duly filled Electronic Payout Mandate. Click here to download the same.
II. A Cancelled Cheque of the Bank Account in which you want to receive your maturity amount.
III. Signed copy of your Identity proof such as PAN Card, Driving License or Passport
You may submit these documents at the nearest ICICI Prudential Life Insurance branch office or courier it to our registered communication address. You may also send across these documents from your registered email id at email@example.com.
Kindly note, TDS would be applicable as per prevailing finance norms.
Surrender of Policy
Surrender is mid-term termination of your life insurance policy which you have purchased to secure your family’s future. With Surrender of your policy your life insurance cover will end and all your policy benefits will stop. Hence we recommend you to re-think your decision of surrendering the financial security of your loved ones.
However, if you still wish to surrender your policy, you need to submit the following documents at the nearest ICICI Pru Life branch
- Original Policy certificate/bond
- Copy of any one valid photo id signed by the policy holder (Passport, PAN Card, Voter's Identity Card, Driving license, Ration card with photo)
- Copy of signed cancelled cheque. Please ensure that the name and account number is printed on the cheque. For repatriation into NRE account, please provide the bank statement which confirms the source of premium from NRE account else ignore.
- Surrender form.
Please note: IRDA has now made it compulsory for all policy holders to register their bank account details to receive all policy payouts directly into their bank account. Hence do not forget to fill bank details in “Payment” section on the surrender form.
Note: For more details on Surrender, kindly refer to your policy document
TDS would be applicable as per prevailing finance norms.
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