i just inisiated a policy surrender in maxlife. i was paying for the last 8years but i needed the money for purchasing a property
my question is will there be any fine or charges as im closing the policy?
will i have to visit max life to get the money? or the process is just online and gets deposited to my bank account?
how much was the whole tenure for?ragdenge ache se in surrender value. process is automatic but they will try everything to stop you from surrendering.
I surrendered last month but I had only paid for 3 years out of 15 years. Received only 33% of principle 😌
kukdookoo wrote:whole tenure is 10years. paid 8 years this is 9th year and havent paid the premiumhow much was the whole tenure for?ragdenge ache se in surrender value. process is automatic but they will try everything to stop you from surrendering.
cashif wrote:I surrendered last month but I had only paid for 3 years out of 15 years. Received only 33% of principle 😌
damm, rekting. painful. i hope its not large sum
Demondealer wrote:Paid 1.04 Lacs/year for 3 years and rec'd 1.07 Lacs.damm, rekting. painful. i hope its not large sum
Bro if it’s ULIP kind of a plan then you will get only somewhere around 50-60 percent of the premiums paid depending upon maturity date and other factors. Check properly before cancelling.
cashif wrote:i never had ECS charges in axis bank. it was bounced atleast hundred of times
Paid 1.04 Lacs/year for 3 years and rec'd 1.07 Lacs.
Would have left without surrendering for even more time but the amount of calls for payment was too much to bear and to top it off, they sent ECS twice to my account and had to pay ECS return charges, so decided to surrender.
PS: Insurance was forced on to me by Axis when we took Business loan with them; one of the conditions set forth by manager to sanction loan!
romilq wrote:Bro if it’s ULIP kind of a plan then you will get only somewhere around 50-60 percent of the premiums paid depending upon maturity date and other factors. Check properly before cancelling.
That is the policy name. It was forced on me by my friend at axis
Demondealer wrote:
Yea looks like you won’t get much if you cancel. Look at the surrender value in the policy document.
romilq wrote:this is what i got from googleYea looks like you won’t get much if you cancel. Look at the surrender value in the policy document.
never mind. i logged into maxlife. its shows surrender value 10k less. so i guess im not loosing much. but still hurts
Demondealer wrote:Ragdege bhai bahut jyada par nikal le paisa, vaha pda bhi sad hi rha
whole tenure is 10years. paid 8 years this is 9th year and havent paid the premium
Demondealer wrote:Yeh bank 1 hi baar me hundred times ka charge vasool karega.very misuser bank
i never had ECS charges in axis bank. it was bounced atleast hundred of times
Demondealer wrote:If its really 10k then surrender asap.how much premium per year?never mind. i logged into maxlife. its shows surrender value 10k less. so i guess im not loosing much. but still hurts
Guys, please help me for query.
Last year I got scammed by loan on insurance from aditya birla finance(not sure if they are really from Aditya birla).
They made me buy 1.5L ULIP from BhartiAxa. How to cancel it and how much I'll get back?
vikasbrb wrote:Complained it to IRDAIGuys, please help me for query.
Last year I got scammed by loan on insurance from aditya birla finance(not sure if they are really from Aditya birla).
They made me buy 1.5L ULIP from BhartiAxa. How to cancel it and how much I'll get back?
kukdookoo wrote:
If its really 10k then surrender asap.how much premium per year?
Bro i dont understand hindi. It was 50KPA. AND its 20k im loosing not 10k. Still submitted and got email saying they approved the surrender and sent the money. But havent got the payment yet. The rep said it will take a week but the mail says we have already sent the neft lol.
This what it shows on maxlife portal. It says refund has been sent on 19th via neft but i have not received it. I have submitted a cancelled cheque also. Hope they didnt enter wrong account number 
