How to Surrender ICICI prudential Life Insurance (ULIP)
If you Opted for ICICI Life Insurance (ULIP) for Tax Saving 80C, there is a lock in period of 3 years , so every year you need to pay the premium until 3 years , after completion of 3 years you are eligible for full Withdrawal or Partial withdrawal, for full Withdrawal ICICI charges 2% on the outstanding amount.
Fill up the Payout request for Surrender / Partial Withdrawal form from the ICICI Prulife site ICICI Prulife Surrender Form
Following are the Mandatory documents for withdrawal
1) Self attested Photo-ID proof (Driving License/Passport..)
2) Copy of signed cancelled cheque ( amount will be transferred to this account)
3) Original Policy Certificate
4) ICICI Prulife Surrender Form
above 4 documents are mandatory , and this needs to be submitted in any ICICI Prulife branch.
If the application for re-instatement and surrender is received on the same day, first the policy will be re-instated and then the surrender will be processed on the next working day and the NAV of the date of processing will be applicable.
If you Opted for ICICI Life Insurance (ULIP) for Tax Saving 80C, there is a lock in period of 3 years , so every year you need to pay the premium until 3 years , after completion of 3 years you are eligible for full Withdrawal or Partial withdrawal, for full Withdrawal ICICI charges 2% on the outstanding amount.
Fill up the Payout request for Surrender / Partial Withdrawal form from the ICICI Prulife site ICICI Prulife Surrender Form
Following are the Mandatory documents for withdrawal
1) Self attested Photo-ID proof (Driving License/Passport..)
2) Copy of signed cancelled cheque ( amount will be transferred to this account)
3) Original Policy Certificate
4) ICICI Prulife Surrender Form
above 4 documents are mandatory , and this needs to be submitted in any ICICI Prulife branch.
If the application for re-instatement and surrender is received on the same day, first the policy will be re-instated and then the surrender will be processed on the next working day and the NAV of the date of processing will be applicable.
13 comments:
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I have an ICICIC Prulife Policy , for which I have paid 1Lakh , for 3 year Lock In Period. The value of Policy is still 3 Lakhs. Have not grown. Now I am looking at Surrendering and withdrawing back my amount. They say there is a 12.36% tax which amounts to 30 thousand. Meaning I invested 3 Lakhs and I am getting back only 2.7 Lakhs.
Could you advise on how I can recover at least my base amount.How I can I be charged on my base amount. If I am paying tax on profit I make , it is fine.
No wonder why you receive countless of feedbacks.life insur
Thank you for sharing such great information. It is informative, can you help me in finding out more detail on best ulip insurance policy , i am very new to this field and wanted to understand the basics of ulip insurance policy.
As you get mature many items in life insurance begin to change. Your children get mature and leave the property. You become a grandparent. Your resources are usually compensated for and most elderly people settle into a life of pension. Then you must need to make Life Insurance for Elderly Over 80 which will be helpful .
Thank you for sharing such great information. It is informative, can you help me in finding out more detail on Ulip Policy ,i am very new to this field and wanted to understand the basics of investment insurance .
Thank you for sharing such great information. It is informative, can you help me in finding out more detail on Ulip Insurance India,Best Ulip Insurance Plan
Ulip Insurance,i am interested and would like to know more about this field and wanted to understand the basics of ulip insurance policy.
Thank you for sharing such great information. It is informative, can you help me in finding out more detail on Ulip Insurance India,Best Ulip Insurance Plan Best Ulip Insurance Policy,i am interested and would like to know more about this field and wanted to understand the basics of ulip insurance policy.
Health problem
How to stop surrender process now I do not want to surrender my policy
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