Get Sbi Life Surrender Form

As per IRDAI guidelines, lock-in period of five years needs to be completed before any payout can be made to the policyholder. How can I surrender my policy? To surrender your policy, please visit the nearest SBI Life Branch and submit the duly filled Surrender Request Form.

I / We __________________ ______________________ hereby surrender my above mentioned policy and request you to settle the surrender value against my policy. Further I/ We hereby declare that I / We have not assigned the above SBI Life Insurance Policy to anyone nor have I /we dealt with the same in any other manner.

To surrender a policy, simply follow these procedures. Contact your insurance provider and inform them of your intent to surrender. Request a surrender form and ask if a letter of instruction will be sufficient to surrender the policy. Fill in the surrender form exactly as required, or write the letter of instruction.

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. Whole and universal policies accrue cash value, making them the most likely option for surrender.

Original policy documents. Canceled cheque with the policyholder's name on it. In case the canceled cheque does not have a pre-printed name, account number, or a new account is mentioned on the cheque, then the passbook copy/bank statement having the pre-printed name and the account number is required.

Q. What should one do if the policy is lapsed? A. You can revive your policy by paying the outstanding premium with interest and submitting a proof of continued good health to the nearest SBI Life Branch.

Dear Sir/Madam, I had opened a Life Insurance policy in your [LIC, Branch name] on [Date]. The policy number is [Policy Number] and the premium for the said policy is all cleared till date.