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The surrender value of SBI Life insurance policy is calculated as a Single premium multiplied by 75% of the outstanding term to maturity/ total term. In case of increasing term assurance, the surrender value is calculated as a Single premium multiplied by 80% of the outstanding term to maturity/ total term again multiplied by the average of effective sum assured at surrender and effective sum assured at the time of maturity/ Average of initial sum assured and effective sum assured at maturity.
The SBI Life Insurance Policy is an excellent product that can help you create a secure future for your family. If you have decided that this insurance policy is not for you, then there are a few things to keep in mind before cancelling the policy.
There are two ways to cancel the policy either by submitting a request online or by visiting the nearest branch of SBI Life Insurance Company. SBI has made it very easy to cancel SBI life insurance policy online. You can do this by logging on to the website and then going to the 'Cancel Policy' section. Or you have to contact the SBI life insurance company and convey your wish to cancel the policy. Make sure that you have given a free look period of 10 to 30 days for cancellation of your policy.
Yes, you can cancel SBI Life Insurance. It will depend on the type of policy holding. You can either surrender your policy or stop paying the premiums at any time, and no need to pay a cancellation fee to the insurance company.
You can cancel your SBI Life Insurance Policy. In case you have purchased an insurance policy and are not satisfied with the benefits it is offering to you, you can surely cancel the product. You must cancel your plan during the cooling period so that you can get a refund of the premiums paid by you.
The status of the life insurance policy can be checked easily through online platforms. To check SBI life insurance policy status visit the official website and enter the required details such as policy number, date of birth, name, etc. Then you can check your life insurance policy status or if you are an existing customer of PolicyBachat then you can call our customer care number to enquire about the life insurance policy status.
You can check SBI Life Insurance policy details with policy number easily in simple steps
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