Get Aegon Life Insurance Surrender Form

By surrendering your policy, you're agreeing to take the cash surrender value that the insurance company has assigned to your policy, and in return, forgoing the death benefit. ... Surrendering a term policy essentially means removing the monthly premium from the budget, but unfortunately, not much else.

Surrender value is the amount that a policyholder receives from the life insurer when he or she decides to terminate a policy before its maturity period. ... Terminating the insurance plan would result in ceasing the benefits of the plan, including coverage."

Step 1 - Claim Intimation and Registration. Submit duly completed claim forms and other documents at the nearest Aegon Life Branch Office or at our Head Office. ... Step 2 - Payment of Fund Value. ... Step 3 - Settlement/ Benefit Payout. ... Electronic Claim Settlement. ... Health Insurance Claims.

Contact your insurance agent and notify them that you would like to surrender your policy. ... Fill out the surrender form and make a copy for personal recordkeeping. ... Mail the form to your insurance company and store the receipt of mail with your copy of the surrender form.

Original policy documents. Copy of CI or YPD submitted for the withdrawal request (carry original documents for verification in the branch) Canceled cheque of the insured's name.

Surrender of Insurance Policy means to cash of life insurance policy before benefits are due to be paid. ... It is the portion of premiums paid or another amount recoverable on an insurance policy if the policy is cancelled immediately after having been issued.

SPECIAL OR CASH SURRENDER VALUE: Paid-up value is calculated by multiplying the original sum assured and the ratio of the number of premiums paid to the number of premiums payable.

Life insurance policies pay an amount/sum assured based on the loss of income in future years of the policyholder. Having said that, at times one may have to surrender one's policy for various reasons, be it for financial problems or for the availability of better options.

1 Place a request from your registered email id and do mention your policy number. [[ Click Here] - if your Email ID is not registered] 2 Post submission of request, the Tax Certificate will be mailed to you. 3 Send the Email to.

By surrendering a policy, the customer loses out on all the benefits of the scheme and receives a much lower amount than the premiums he has already paid.

The guaranteed surrender value is payable to the policyholder only after the completion of three years. This value makes up to only 30% of the premiums paid towards the plan. Moreover, it excludes the premium paid for the first year, additional costs paid towards riders and bonuses (you might have received).

If a policyholder decides to terminate the policy before maturity, the amount which the insurance company will pay to the policyholder is known as surrender value. If the policyholder does a mid-term surrender, he would get a sum of what has been allocated towards savings and earnings on them.