Dear Vivek
I have a policy from hdfc life. Its value is higher than my sum insured. If I withdraw say 2.5 lacs than it comes below my sum insured. In case of some mishap company will compensate based on the then current value or they will total up withdrawn amount too?
Gandhi
Ans: Hello, this is a ULIP investment as I understand
In case of ULIP , if the investment value goes above the sum assured, the company stops charging you a cost of mortality and as soon as it goes below the sum assured you will be charged a mortality cost. In case of death, the company will pay the amount whichever is higher i.e either sum assured or the investment value