Surrender policy

[fernandez]

Whom do I approach if I feel my insurance company cheated me? I received only 40% of the premium paid as surrender value after 8 years.
Does IRDA really help?

[Matrix]

Have you read the term and conditions of the policy? What it's saying about surrender value?

If the insurance company is not following the term and condition and paid you less amount then mentioned in the policy document. You can register your complaint to insurance company first and then if no response escalate to IRDA.

[Matrix]

You can file your complaints to -
1- IRDA (http://www.policywala.com/how-to-file-a-complaint-to-irda-for-an-insurance-claim/)
2- Ombudsman (http://www.policywala.com/how-to-file-a-complaint-to-insurance-ombudsman/)
3- Consumer Court (http://www.policywala.com/how-to-file-an-insurance-claim-complaint-to-consumer-court/)

[himalayan]

Here you haven't share about the information of your insurance policy, if it belongs to ULIP then the surrender value is based on current market status so it is good to clear the basic things from the service provider company before file a complaint against them.