i) Partial Withdrawals: You may encash the units partially after the third policy anniversary subject to the following:
i) In case of minors, partial withdrawals shall be allowed from the policy anniversary coinciding with or next following the date on which the life assured attains majority (i.e. on or after 18th birthday).
ii) Partial withdrawals may be in the form of fixed amount or in the form of fixed number of units.
iii) For 2 years’ period from the date of withdrawal, the Sum Assured under the Basic plan shall be reduced to the extent of the amount of partial withdrawals made.
iv) Under Limited Premium Paying Term policies where less than 3 years’ premiums have been paid and further premiums are not paid, the partial withdrawals shall not be allowed.
v) Under Limited Premium Paying Term policies where atleast 3 years’ premiums have been paid, partial withdrawal will be allowed subject to Policyholder’s Fund Value being at least Rs. 10000/-.
vi) Under Single Premium policies, the partial withdrawal will be allowed subject to a minimum balance of Rs. 5000/- in the Policyholder’s Fund Value. |
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