Dear Relakh,
I want to surrender my SBI subaniveesh policy ,policy is yearly 1lakh for 15Y .I started 1year back I was payed 50,000/- . I called branch they are saying if you surrender now you will not get any money you should pay minimum 3y and locking period is 3Y. What should i do now. If discontinued now I will lose my 50,000/-.Can you please suggest me. What I should do now.
1 Answers
Hi,
SBI Shubnivesh is a typical Endowment life insurance policy.
Yes, to surrender a life insurance policy, you should have paid at least 3 year policy premiums.
If you want to discontinue this policy, kindly just discontinue it and accept the loses.
May I know, if you have adequate life insurance cover?
Kindly read:
https://www.relakhs.com/how-to-get-rid-off-bad-life-insurance/
https://www.relakhs.com/traditional-life-insurance-plan/
https://www.relakhs.com/best-online-term-insurance-plans-india/
https://www.relakhs.com/insurance-importance-life-health-accident-covers/
https://www.relakhs.com/term-insurance-plan-a-waste-of-money/
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