Bajaj Allianz Capital Unitgain plan, Policy lapse???

Question

Hi,

I purchased the policy of Bajaj allianz CUG plan on. I wanted to know what are the cancellation options? What if I don't pay premium for 2nd and 3rd year? I mean what amount I'll get back?

Answer 1

all policies and companies are different.
They are written in the policy if you can figure out how to read it.
Call the company, or ask your agent.
Be aware that they both have a vested interest so you need to be sure you ask the right question and get the complete answer. and have them refer to the section of the policy justifying their answer.
If this is a permanent life policy you probably don't get anything back in the 1st year and maybe not for up to 5 yrs.
if it is a std. term - you get nothing back anytime.