LIFE INSURANCE (FIXED PLAN SAVINGS)

4 years ago

I HAVE TAKEN A LIFE INSURANCE POLICY WITH TERMS AS TO PAYMENT OF YEARLY PREMIUM FOR 5 YEARS AND THEREAFTER IF I SURVIVE YHE POLICY MONEY WILL BE RETURNED WITH ADDITIONS AFTER 7 YEARS. SINCE I HAVE NOT UNDERSTOOD THE TIME LENGTH PROPERLY I MERELY ACCEDED AND WENT ONPAYING PREMIUMS AND SUCCESSFULLY COMPLETED 5 YEARS PAYING TERM. AFTER THAT SINCE I RETIRED I AM IN NEED OF FUNDS HENCE APPROACHED MY COMPANY WHO GAVE ME RUDE SHOCK CONVEYING SINCE BALANCE PERIOD OF 7 YEARS FOR NORMAL MATUREMENT WAS NOT COMPLETED MY POLICY WILL BE TREATED AS PAID VALUE BASIS AND SURRENDER VALUE EQUIVALENT TO HALF OF PREMIUMS ARE ONLY ADVISED FOR RETURN THIS THEY CITED AS PER TERMS. WHETHR IS THEIR CONTENTION CORRECT. DO I NOT HAVE ANY RECOURSE /?

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Kishan Dutt Kalaskar

Responded 4 years ago

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A.Dear Sir,
Show your policy to local advocate or contact your insurance agent to clarify your doubts.

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Rameshwar Dadhe

Responded 4 years ago

A.You will need to read such police terms and conditions then it will be clear

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