Need a loan or partial withdrawal or surrender policy?

a.    Policy Loan
A policy becomes eligible for loan after the payment of the premium for 2 full years. You can available a loan of up to 85% of the surrender value of the policy at a compound interest rate of 12% per annum.
You need to note that the policy will be auto-surrendered if the total indebtedness becomes equal to or higher than the total surrender value.
To avail the loan you would need to submit a Loan Agreement and Assignment Form and Policy Document.

b.    Partial Maturity Payment
You can request a partial maturity payment for a Three Payment Plan. This benefit becomes due the premiums have been regularly paid and as per the below schedule.
First Partial Maturity           - After completion of the first 1/3 period of the policy
Second Partial Maturity     - After completion of 2/3 period of the policy.

To request a partial maturity payment you need to provide an Application for Payment of Partial Maturity under Three Payment Plan and Undertaking for Discharge.  Please click here to download the partial maturity payment application.

c.    Request for Surrender of Insurance

To surrender a policy, you would need to provide the Policy document, the Application for Policy Surrender and you need to complete Discharge voucher.
You need to know that a policy becomes eligible for surrender only after you have paid the premium for 2 full years. The company would then pay the net surrender value of the policy to you.

We aim to address all policy change and surrender requests within 3 business day and all loan requests within 2 business days. Requests for partial maturity will be addressed within 1 business day.