[Resolved]  Uti Ulip — Termination of Policy

Address:

Jaipur, Rajasthan

Dear sir ,
I hold following UTI ULIP Folios with 10 /15 year plan .
Folio No. : [protected] (Archna dosi)
>> Folio No. : [protected] (Aditya dosi)
>> Folio No. : [protected] (Manoj kumar dosi)
>> Folio No. : [protected] (Aditya dosi) "

After contributing regularly for many years , I could not pay some of my annual renewal contributions . As a result the policy seems to have lapsed and my renewal contributions were not accepted .
Now , as you may know , a substantial portion of the contributions were appropriated towards insurance premiums ,particularly in the initial years , I seem to have lost a a large amount of money .
The reply I got from the Fund manager was as follows :
[protected][protected][protected][protected][protected]--------
“ Thank you for contacting UTI Mutual Fund,

This is with reference to your query regarding termination vide reference number 1/Connect-48551/1.
In this connection, we would like to inform you that if investor has not made the payment of renewal contribution within a year from the due date, then policy has been terminated and further renewal contributions cannot be accepted.
Please find the unpaid renewal contribution details for your reference.


S no Folio number Due date
1 [protected] 01/07/2010
2 [protected] 01/11/2008
[protected] 01/11/2009
[protected] 01/11/2010
3 [protected] 01/07/2010
4 [protected] 31/03/2006
[protected] 31/03/2007
[protected][protected][protected][protected][protected][protected] “
Does it mean that what ever part was contributed by us towards insurance from renewal contributions has gone waste . And I do not get any value for it .

That is a big LOSS to us . The Insurance company will not give any amount back ,what so ever ? This is highly unjustified . In nay Insurance policy , at least the amount contributed by apolicy hold er is given back .

Can I get back - atleast the premium amounts contributed by me .
Regards ,
manoj Dosi