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As the name suggests, surrender value is the money you receive from the insurer when you surrender your SUD policy during the policy tenure. It is simple to calculate your surrender value. All you need to do is add the total premium paid and subtract the charges by your insurer for surrendering the plan before maturity. However, Star Union Dai-Ichi Life Insurance offers surrender benefits under a few plans. Once you surrender your policy, the insurer shall pay you the surrender value, and terminate the policy.
Follow the steps below to surrender your SUD Policy:
Step 1
Visit your nearest SUD branch or log in to their customer portal.
Step 2
Obtain the 'Surrender form' by downloading it online or from an office.
Step 3
Fill out the form and submit it to SUD along with documentation.
Step 4
Once the insurer receives the form, the surrender process will be initiated.
Step 5
Typically, the surrender value is credited to the policyholder's account in 7-10 days.
Star Union Dai-Ichi Life Insurance can be surrendered anytime before the maturity date. Therefore, with the SUD Surrender Value calculator, you can get an estimate of their policy surrender value. Once your claim process is done, you'll receive a lump sum payout of the surrender value. you can use this money as you like, whether you need to pay off debt or want to put it into savings.
Do you want to cut off your budget and decide to exit the SUD plan? Are you wondering how much Surrender Value you'll get? Therefore, check out the above sub-topics and learn all about the SUD Life Policy Surrender Value.
It may depend on the premium paid till you surrender your Star Union Dai-ichi Life insurance policy
The surrender value of Star Union Dai-ichi Life insurance policy is estimated as a Single premium x 75% of the remaining tenure to maturity/ total term.
To surrender a Star Union Dai-ichi Life Insurance Policy online, visit the insurer's official website, sign in to your customer portal with credentials, and click the 'Surrender Policy' button.
Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.
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February 5, 2023
Asia/Kolkata