[Resolved]  Exide Life Insurance — exide life insurance cancellation of policies, 20% refund?

Address:	500090
Website:	www.exidelife.in

Hi, i am a policy holder with exide life insurance company since year 2010 and it's "survival benefit payouts". My yearly premium is around rs. 50000 which is paid, and i've paid around 2, 50, 000/- when i inquired about the procedure to surrender my policy, they said that it's only 20% of my premium paid amount.in simple words, i'll be losing 80% of my premiums paid. I don't know on what basis, exide life insurance can take 80% of my money into their pocket. The customer care executives also repeat the same answer what they see on their system (S). As per law, after locking period, i should be getting at least my premium paid amount (If not bonus) but they are excluding the accrued bonus and also assuring only 20% of my paid amount. So, i have consulted my lawyer and working on to file the rti petition and also to reach out to rbi to get justification on this issue.
Thanks
Rajesh
Policy no: 02136988