1. How much penalty I have to pay, if renewal premium is not paid in time for ULIP Policies?
2. How much we get if we return the policy units at the same rate of NAV at which we had purchased at the time of new policy?
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1. How much penalty I have to pay, if renewal premium is not paid in time for ULIP Policies?
2. How much we get if we return the policy units at the same rate of NAV at which we had purchased at the time of new policy?
You need to check the terms and conditions of the policy.Quote:
Originally Posted by abhinav.gupta88
What ever is the NAV value on the date of surrender.Quote:
2. How much we get if we return the policy units at the same rate of NAV at which we had purchased at the time of new policy?
Normally you get one month grace period for most of the policies, so if you have not paid premium for one month or so, you can reinstate it without any changes otherwise you need to pay reinstatement changes. Some insurer also insist for medical check up.