What does surrendering a policy entail? Will I get all my money back? Will I also receive any benefits or do I have to pay a penalty? | Aviva India

A-In case you surrender the policy all your policy benefits will cease. You’ll get surrender value of the policy after deducting applicable surrender charges. Charge structure varies from policy to policy. In most cases if surrender is made within the first 3 policy years, the surrender value will be paid after completion of 3 policy years. Please refer to the policy brochure for more details.

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The name of the Aviva Product/Plan does not in any way indicate the quality of the insurance contract, its future prospects or returns. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. Riders are not mandatory and are available for a nominal extra cost. Please read respective rider brochure before taking a decision.

Unit Linked Life Insurance products are different from traditional insurance products and are subject to market risks. Please know the associated risks and the applicable charges from your sales representative or the intermediary or policy document issued by the insurance company. The premium paid in Unit Linked life insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of the fund and factors influencing the capital market and the insured is responsible for his/ her decisions.

The various funds offered under Unit Linked Insurance contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. Unit Linked Funds are subject to market risks and there is no assurance or guarantee that the objective of the investment fund will be achieved. Past performance of the investment funds do not indicate the future performance of the same.

BEWARE OF SPURIOUS/FRAUD. IRDAI in not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a complaint.

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