Exide Life Insurance — surrender value of my policy[protected]

Website:

www.exidelife.in

Hi, I am a policy holder with Exide Life Insurance Company since year 2015 and it's "Guaranteed Income Insurance Plan". My quaterly Premium is around Rs. 31000 which is paid in more than 3 Years premium amount (Quaterly Basis). This is my 3rd year, When I inquired about the procedure to surrender my policy, they said that it's only 30% of my Premium Paid Amount i.e. around Rs. 26, 000. In simple words, I'll be losing 70% of my Premiums Paid. I don't know on what basis, Exide Life Insurance can take 70% 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 assuring only 30% of my paid amount. If I had paid my Income Tax I'd have at least saved Rs.87, 000 in my taxable income. 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
Madhumesh Ranjan
Policy No: 03106481
Mobile No-[protected]