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Question: What are the conditions before one can partially withdraw money from an insurance plan?

Answer: Every insurance company has set a minimum limit for partial withdrawals varying from policy to policy. Usually the term is that of 5 years so you have to be a policyholder for minimum period of 5 years before you are eligible for partial withdrawal. Also all due premiums must be paid in time for the policy to be considered to partial withdrawal facility. Before you opt for a partial withdrawal know that the sum assured as per the insurance policy decreases for each partial withdrawal made for a period of 2 years in case the age of life insurance policyholder in less than 60 years.

Every insurance company has set a minimum limit for partial withdrawals varying from policy to policy. Usually the term is that of 5 years so you have to be a policyholder for minimum period of 5 years before you are eligible for partial withdrawal. Also all due premiums must be paid in time for the policy to be considered to partial withdrawal facility. Before you opt for a partial withdrawal know that the sum assured as per the insurance policy decreases for each partial withdrawal made for a period of 2 years in case the age of life insurance policyholder in less than 60 years. Source: CoolInterview.com

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