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.