life insurance policy cancellation rules
Policy Cancellation Refund. You can cancel a whole life insurance policy but you usually pay a penalty and lose the cash surrender value if you cancel in the first 10 years.
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The surrender period covers the first few years of your policy and has different cancellation rules.
. You are requested to contact the toll free number of your Insurance Company or refer the respective section of your Policy terms and conditions. Policy cancellation and refund of the premium shall be as per the terms and conditions of the policy. The refunds are processed by the Insurance Company directly.
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