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Want to surrender your life insurance po

Overview:

 

Life insurance is one of the most vital aspects of your financial planning with a long-term objective of building a corpus. It also secures the interests of your family by providing you with life cover that will look into their financial stability in your absence. Considering that you buy a life insurance plan not solely for investment and tax rebates, but also as a tool to ensure the financial security of your family, the thought of surrendering a policy must be an extreme step and a matter of compulsion. You may contemplate surrender of your policy in the event of dire financial duress and to a lesser extent for opting a wrong policy and you wish to switch to a better one. Before going into the nitty-gritty of surrendering your policy, you first need to know the mechanism of life insurance plans and the other definitions pertaining to the business, to take an informed decision.

 
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