The policy owner can partially surrender the policy when the policy has accrued a positive Surrender Value. If the policy owner partially surrenders the policy, the sum insured, minimum protection level (MPL) and corresponding benefits will be reduced accordingly. The policy will continue with the reduced benefits.
The sum insured of the policy after the partial surrender must meet the minimum sum insured requirement set by us. The Surrender Value, if any, will be paid out in one lump sum.
Can the policy owner request for a partial surrender?
