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CircularRevised Surrender Normsdoc

CircularRevised Surrender Normsdoc 2025

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The document outlines the revised norms and procedures for trading members of the National Stock Exchange of India who wish to surrender their membership. It details the prerequisites for application, the required documentation, and the process involved in surrendering membership, including conditions under which applications may be accepted or rejected. The document also specifies that previous circulars regarding membership surrender are no longer applicable and provides contact information for further clarifications.

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What is the new rule for surrender value?

From October 1, 2024, IRDAIs new rule ensures a Higher Surrender Value when you exit a policy after one year. That means no more losing your entire premium if you need to switch! 🔹Whats Surrender Value? Its the amount you get when you cancel your policy before maturity.

What are the rules for surrender of insurance policy?

When a policy is surrendered, certain charges are deducted from the policy and the remaining amount is paid to the policyholder. Also, as the policy gets terminated, it is no more in force and therefore no terminal benefits such as death benefit or maturity benefits are provided.

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