Surrendering ICICI life insurance savings plan

Surrendering ICICI life insurance savings plan

My father bought ICICI pru gold life insurance on my name couple of month back. I didn’t know this at the time and I really want to discontinue this.

He paid 1Lakh already. Would I get the invested amount back if I surrender the policy now?

I looked at the policy document and it says surrender benifit as 0 in the first year and 15k in the second year. Does that mean I will only get this much back if I surrender now?

What is the best way to approach this? Will the agent be able to get the money back? Is complaining at IRDAI or Banking ombudsman help in this issue?

View on r/India by hemanhehe

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