Ask Value Research

Penalty for surrendering ULIP

You can surrender the policy without paying any surrender penalty since you have paid premiums for eight years

I purchased Aviva Save Guard Growth Fund in November 2007. The fund's performance has been dismal and the costs is increasing every year. Can I surrender the fund without incurring penalty? If at all there is a penalty, how much money will I lose?
- Ajay

As you have paid premiums for eight years, you can surrender the policy without any surrender penalty.

Check the link for more details.

For taxation on your policy, click here

This article was originally published on October 13, 2015.

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