Mumbai: From October 1, life insurance companies will pay you a surrender value even if you surrender your policy after completion of the first policy year. The Insurance Regulatory and Development.
LIC Dhan Vriddhi plan provides financial support for the family in case of unfortunate death of the life assured during the policy term. It also provides a guaranteed lump sum amount on the date of maturity to the life assured.
Final guidelines remove a material overhang over life insurers, given that the surrender charges are largely unchanged vs a materially margin-dilutive proposal in draft guidelines.
Term insurance offers a plethora of benefits and embracing it in the early stages of life not only provides financial security but ensures cost-effectiveness