Discontinuing abruptly will put your life cover and other policy benefits at risk
Do you know what happens to your insurance policy when you stop paying premium? Does it continue to offer insurance cover? Abruptly stopping payment of premium because you are unhappy with the policy or facing a financial crunch— without considering the consequences—is unwise. Here’s a lowdown on the options available should you wish to discontinue a traditional life insurance policy, and how to go about it.
TRADITIONAL PLANS
A traditional life insurance policy is a protection-cum savings plan. It assures the policyholder a payout sum along with bonus on maturity of the policy. Unlike unit-linked plans, which have the option of investing in equities, traditional plans invest only in fixed income instruments and offer a return of around 4-6 per cent.
THE PREMIUM QUESTION
هذه القصة مأخوذة من طبعة December 04, 2017 من India Today.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة December 04, 2017 من India Today.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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