News From Press Consider loss of cover, deductions before surrendering life insurance plan

Consider loss of cover, deductions before surrendering life insurance plan

Source: Business Standard Sep 3, 2022

According to media reports, over 2.3 crore life insurance policies were surrendered by policyholders in 2021-22: three times the number surrendered in the previous year. This was chiefly due to the financial distress caused by the Covid-19 pandemic. While those were exceptional circumstances, in more normal times policyholders should surrender their policies after a lot of deliberation.

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