FAQs - Surrender/Partial Withdrawal/Assignment

Yes, you can stop your policy before its entire duration, however you would not be able to withdraw any monetary benefits before completion of the lock in period.

*Please refer the policy documents to know the pre mature withdrawal benefits

You need to submit the Payout Request Form which is available in the Download Center section of our website. You can also get in touch with us through any of the modes listed in the Contact Us section of our website as per your convenience.
Partial Withdrawal is an option that allows you to withdraw a part of your fund value. The norms applicable for partial withdrawal may differ for every product. For product specific details on partial withdrawal, please refer to the respective policy documents/ bond or product brochures available in the Products section of our website.
A Top-up is an option that allows you to invest your surplus money either once or multiple times in your policy. This amount is over and above your regular premium payments and can be made at any time while your policy is in force. Top-ups help to grow your wealth further by increasing the amount of your savings. The norms applicable for top-ups may differ for every product. For product specific details on top-ups, please refer to the respective policy documents/ bond or product brochures available in the Products section of our website.
Transfer or assignment is a method by which you can transfer the benefits your life insurance policy to another person or institution (assignee). This can be used as a security for repayment of loans. In case of an unfortunate event, the benefits of the insurance policy will be used to repay the assignee.
You can assign or transfer your life insurance policy by authorising the assignment in your policy document. Another way of transferring or assigning the life insurance policy is to get a separate assignment deed executed.
The former case is a preferred mode of assignment as it is exempt from further stamp duty. An assignment should be signed by the assignor or his duly authorised agent, and should specifically state the fact of transfer or assignment. This document needs to be attested by at least one witness.
Assignment is applicable on all insurance plans except pension and insurance policies taken under Married Women’s Property Act (MWP). MWP is a special act that protects your money from your creditors, and keeps it protected for your spouse and children in your absence.
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