whether a person can ask for refund of premium amount after paying 1/2 premiums on the ground that he is not in a position to continue the policy.
satish verma (service) 17 June 2009
whether a person can ask for refund of premium amount after paying 1/2 premiums on the ground that he is not in a position to continue the policy.
Savitri (Housewife) 17 June 2009
Sir,
I didn't understand "1/2 premium".
Whether it is half-yearly premium?
A V Vishal (Advocate) 18 June 2009
Dear Satish,
Generally there is a lockin period for the Insurance policy, if you pay 1 or 2 premiums I think you cannot claim the redund the previousl paid premiums. Kindlt confirm the Lock in period from your company and act accordingly.
V.V.RAMDAS (Advocate) 21 June 2009
Lockin period is 3 years.
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