Should policyholders consider financing options instead of prematurely surrendering their policies?

Should policyholders consider financing options instead of prematurely surrendering their policies?

Life insurance policies are long-term financial instruments designed to provide stability and security during unforeseen circumstances. However, policyholders often face financial challenges that lead them to prematurely surrender their policies to access immediate funds. While this may seem like a quick fix, it can have long-term repercussions. Instead, financing options can offer a less disruptive … Read more

You may not have to pay high surrender charges on your insurance policy from next year; here is what Irdai proposes

You may not have to pay high surrender charges on your insurance policy from next year; here is what Irdai proposes

Abandoning life insurance policies midway through the term often results in a significant financial setback due to the high surrender costs associated with the early years of the policy. Recognising this, the Insurance Regulatory and Development Authority of India (Irdai) has proposed measures to increase the surrender value of non-linked policies in an exposure draft … Read more