Example Letter regarding the enquiry of Surrender Value of Policy.

Example Letter regarding the enquiry of Surrender Value of Policy.

Feb. 2, 2003

To,

The Divisional Manager,

Life Insurance Corporation,

Janpath Branch,

New Delhi.

Sir,

Ref.: Policy Number 7573471 dt. Mar. 30, 2000

This is to inform your goodself that my wife is suffering since Oct. 2002 and her prolonged illness has completely drained me of the financial resources. As a matter of fact, I find it difficult to pay the overdue premia on my above policy. Unfortunately, her early improvement also looks a distant possibility, which makes it difficult for me to continue with the policy. I would like to discontinue the policy, keeping in view of this strained financial situation. I will be extremely thankful to you, if you kindly intimate me the present surrender value of my life and the procedure to obtain it.

Your kind consideration in this regard is solicited.

Thanking You

Yours Sincerely,

Ganesh Gagan

Cannaught Place,

24, Paraganas

Reply to the above letter giving the Surrender Value.

Feb. 6, 2003

To,

‘Mr. Ganesh Gagan,

Cannaugh Place,

Sir,

Ref. Policy Number 7573471 dt. Mar. 30, 2000

We acknowledge your letter dt. Feb. 2, 2002 and we feel extremely bad in learning about your decision to surrender your policy on account of the adverse financial position that you are in, due to circumstances.

As per the guidelines, you are entitled to an amount of Rs. 12,456, which is 30% of the total premium paid by you. You will also get the bonus amount credited to your account. To obtain this amount of the surrender value, we need the following documents:

(a) Original Policy

(b) Bonus Certificates and

(c) Authentic Age Proof

We also take the opportunity to impress you the importance of continuing a life policy. By withdrawing your policy, you are discontinuing the protection that this policy offers. Taking this into consideration, we strongly advise you to continue your policy and avail a loan which you are entitled to rather than forfeiting the policy. Our loan terms are very easy. We trust that you will give this matter a serious thought and alter your decision.

Waiting to hear from you soon.

Yours Sincerely,

Divisional Manager

L.I.C. Janpath, New Delhi.