Exiting your insurance? This expert suggests selling instead of surrendering
Perhaps influenced by LIC’s stance, the government amended the Insurance Act, 1938 in 2015 to discourage ‘trading’ in insurance policies. Mehta approached the Supreme Court to clarify that a ‘one-time assignment’ was not considered ‘trading’ in life insurance. The court ruled in his favour saying that a ‘one-time assignment’ was not considered ‘trading’ in life … Read more