Is partial withdrawal and surrender - one and same thing?

[Nilesh]

Is partial withdrawal and surrender - one and same thing?

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[Madhura]

Partial withdrawal of a policy implies withdrawal of only a part of the funds of your policy. But in surrender the policy is surrendered and the cash value is withdrawn.

[>take]

What is partial withdrawal in ULIP?
Partial withdrawal means that you can withdraw money from the policy investment corpus without closing your plan fully.
More info - http://www.policywala.com/forum/show...drawal-in-ULIP

What is surrender value?
It is the amount the policyholder will get from the life insurance company if he decides to exit the policy before maturity.
More info - http://www.policywala.com/forum/show...urrender-value