[Resolved]  MetLife India — reg: Surrender Charges

Address:

Bangalore, Karnataka

Hi,

I have a Metlife ULIP policy (Accelerator), I was paying 24,000 Rs p.a. from 12/2008 to 12/2011. I didn't know about the surrender charges till I wanted to withdraw my money.

Surrender charges where up to 70% of the first years premium + some 2.3K (total around 18.3K).

But as per guidelines from IRDA the max of surrender charges that can be leveled is 6K, this was notified on Aug 2009.

Please let me know whether this rule hold for the policy take before Aug 2009, as most of the IRDA rules are meant applicable for existing products.

Thanks,
Sabareesh