I took hdfc life uday policy in 2015. It has 8 annually premiums and policy term of 12 years.
I have paid 2 premiums till now and the 3rd premiums date is 23rd Dec 2017. I want to surrender my policy. I want to know how much penalties I have to pay.
Since my policy is in guaranteed surrender value criteria. I should get some of my premiums money back. But I don't know how to calculate it. Can anyone please help me.
Date of commencement - 23rd Dec 2015
Sum Assured on Maturity - 89269 inr
Annualised Premium - 14750 inr
Policy Terms - 12 years
Premium Paying Terms - 8 years
Frequency Of premium Payment - Annual
I read some docs according to them Guaranteed Surrender Value for 2 years is 30% of percentage of total premiums paid + percentage of accured bonues & accured guranted aditions.
Does it mean i am going to get only 30000/100*30 = 9000rs only
This is huge loss.
Please clearyfy. Also how to calculate these bonues and aditions percentage.
I have paid 2 premiums till now and the 3rd premiums date is 23rd Dec 2017. I want to surrender my policy. I want to know how much penalties I have to pay.
Since my policy is in guaranteed surrender value criteria. I should get some of my premiums money back. But I don't know how to calculate it. Can anyone please help me.
Date of commencement - 23rd Dec 2015
Sum Assured on Maturity - 89269 inr
Annualised Premium - 14750 inr
Policy Terms - 12 years
Premium Paying Terms - 8 years
Frequency Of premium Payment - Annual
I read some docs according to them Guaranteed Surrender Value for 2 years is 30% of percentage of total premiums paid + percentage of accured bonues & accured guranted aditions.
Does it mean i am going to get only 30000/100*30 = 9000rs only
This is huge loss.
Please clearyfy. Also how to calculate these bonues and aditions percentage.