Life Insurance Q&A, Surrender of Life Insurance Endowment Plans, Hindi, December 7, 2017

In this video in Hindi, we will discuss some of the most important things to know about surrender of life insurance endowment plans
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0:45 In this video, we will discuss some of the most important things to know about surrender of life insurance endowment plans

1:32 You can only surrender a life insurance endowment plan only when it acquires surrender value

1:45 Any endowment plan that has a term of 10 years or less, typically starts acquiring a surrender value after the end of the second year

1:53 For endowment plans with terms of 10 years or more, the surrender value starts acquiring after 3 years

2:01 You can check out the surrender conditions in the life insurance policy document

2:07 You can check out these conditions in the 15 day free look period

2:48 Even when it is acquiring surrender value, you only get a fraction of the premiums paid

3:23 This is because major portion of the charges such as mortality charges for providing life insurance cover, administration charges and commissions are deducted from the premium at beginning of the policy term

3:34 The part of the premium getting invested initially is less due to the deduction of charges but it keeps increasing during the policy term

3:51 Therefore, examine any life insurance plan very well before buying whether it is unit linked or endowment plan

4:01 Check out our other videos on life insurance endowment plans in this channel

4:30 There are also tax implications of any surrender of life insurance endowment plans

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