Life Insurance

Aditya Birla Sun Life Insurance Company Ltd.

Policy Cancellation (Surrender Form)

Rethink! Surrendering this policy would mean surrendering its benefits too.
Any alterations/corrections made in the form need to be signed by the policy owner. Please use a separate request form for each policy. (Kindly fill the form in BLOCK LETTERS only.)

Policy Number: e-Insurance Account Number (If Yes):

Name of the Policy Owner:

Address of the Policy Owner: ______________________________________________________________________________________________________________________

Mobile (Mandatory): Telephone (R/O) No.: STD code Email Id:

I hereby provide my consent to register this contact information in the records of Aditya Birla Sun Life Insurance Company Limited (ABSLI) and to receive a call with regard to my
request for surrender of this policy.
PAN: (Mandatory)
Note : arch.2018 to ensure
uninterrupted services for your policy(s).
Reason for surrender: Financial reasons (Immediate Fund requirements) Purchase of financial instrument Unsatisfactory returns
Personal reasons (Marriage, Education, Death, etc.) Unsatisfactory Services Others: Please Specify

Are you holding citizenship of any other country? Yes No If yes, please provide country name/s:
Are you a tax resident of any other country? Yes No If yes, please provide unique tax identification number/s:
Note: If the response to any of the above question is yes, please submit a detailed NRI questionnaire available with our branch office.

Bank Name: __________________________________________________________ Branch Name: _____________________________________________________

Bank Address:
Bank Account Holder's Name: Account Type: Saving A/C Current A/C NRE# NRO
Bank Account Number: 11 Digit IFSC Code:
(You can get this code from your bank)
Note: Aditya Birla Sun Life Insurance Company Limited (ABSLI) will not be responsible in case of non credit to your account or if transaction is delayed or not effected at all for reasons of
incomplete/ incorrect information provided or rejected by your bank. In case of requisite information for direct credit is not received or transaction rejected by bank the payout will be made vide
cheque. The Bank account details provided above will be linked to all your policies under your client id.

In case the cancelled cheque does not have preprinted name and
Original Policy document.
account number or "New Account" is mentioned on the cheque, pass
Self attested copy of PAN is Mandatory, carry original for verification at Branch. book copy/bank statement having preprinted name & account number.
Original Cancelled Cheque with pre printed name & account number. All premium paid entries are mandatory.

Discharge Receipt: I/we have not assigned the said policy to anyone or have not dealt with same in any manner. I/we understand that upon surrender policy contract will be terminated
and I/We will not be eligible for any benefits from said policy. I/we hereby agree to accept the surrender value per terms & conditions of the Policy contract and discharge Aditya Birla
Sun Life Insurance Company Limited (ABSLI) in full satisfaction under this Policy and understand that no further claims of whatsoever nature will be payable under this Policy. I declare
that I understand and agree to all the conditions and information given in this form. I/we also agree and understand that in case of non submission of valid PAN, 20% TDS may be
deducted from the payout value due to me.
I hereby declare and agree that the contents in the form have been fully explained to me and understood by me. I hereby agree to have the given bank details to be linked to all my
policies under my client id for any company initiated payments in future.
Vernacular Declaration: I hereby certify that the contents of the above form have been explained to Mr./Ms./Mrs. __________________________________________________________
who has signed in vernacular language/affixed his/her le thumb impression on the above form and that his/her signature/thumb impression has been affixed in my presence, only aer
fully understanding the same.
Witness Name:
Date: D D M M Y Y Y Y Please affix Relationship with Policy Owner:
`1
Address:
revenue stamp
Place: and Witness Contact No.:
Signature of Policy Owner/ sign across
Assignee in case the policy is assigned Witness Signature:

For Branch Use Only (All fields are mandatory)

Surrender Request submitted by Customer Advisor Date: D D M M Y Y Y Y Before 3 PM

ABSLI Staff's Name, Employee ID and Signature:

Branch Stamp
Reference No.
Please collect stamped, signed and filled up acknowledgment slip, which you can refer to for all your communications in regard to this request.

Acknowledgment Slip

Surrender request Reference No.: Date: D D M M Y Y Y Y Before 3 PM

Please note, in case you have opted for NACH/ECS/DD and your due date is with 10 days within request, your account might get debited for the premium due.
However, same shall be refunded to you within 3 working days into the same account from where the money was debited.
FOR/9/17-18/813

We thank you for choosing Aditya Birla Sun Life Insurane Company Limited (ABSLI) as your preferred insurance partner and hope that you will reconsider our products in the near future.

Policy Number: Name of Policy Owner:

Date Stamp and Time
Branch: Received by:
 Important Guidelines
1. If request for Unit Linked Product is received up to 3:00pm IST on a weekday (Mon-Fri), the same day’s NAV will be applicable. However, if the request is received
NAV will applicable.
NAV applicability will be subject to receipt of the request along with the policy document and requirements as applicable.
2. No Surrender request will be accepted without original policy document.
3. Self attested copy of PAN
- Passport -Bankers Certificate/Employer’s Certificate with Photograph
- PAN Card -Driving License
(For payout request received along with request for change in signature, only the above mentioned 4 photo ids are valid).
- PIO Card with photograph - ESIC Card with photograph
- Armed Force ID cards with Photograph - Post Office Savings A/c, PPF A/c with photograph
- Employees ID card with Photograph - Bar Council ID for Lawyers of with photograph
- Letter issued by Unique Identification (UIN) Authority of India containing details of name, address is accepted as valid KYC Identification (Photo ID) and Address
proofs
Please note that Valid Photo ID of Policy Owner and 3rd party can be attested by Customer Service Executive – other documents by authorized signatories.
- All MDRT, COT, TOT and CEO club members qualified for the last calendar year are also authorized signatories. Either of these documents needs to be attested
any of the following authorised signatories
- (As mentioned in the existing form)
4. For Bank Details, please note:

- In case the cancelled cheque does not have the policy owner’s name and account number pre-printed, then a copy of the Bank Statement/Bank Passbook with
account number and account holder’s name needs to be submitted. Computerized Bank statement displaying pre-printed name and account number of the policy
owner can be accepted if the same is attested by authorized ABSLI personnel.
- In case cancelled cheque carries pre-printed name and account number, but has “New Account” printed on it, kindly submit an attested copy of the passbook/bank
h for verification purposes. -
Cheque submitted along with payout requests should be cancelled/defaced. While doing so, please ensure that the account number /IFSC code is clearly visible.
- Cheque should not be signed
Important: Only the front page of the passbook/portion of the bank statement that shows the account holder’s name, address, account number and IFSC code
should be submitted. Pages showing transactions should not be submitted.
5. For payout forms where thumb impression is affixed - (Requests received from walk in customers) - The payout form to be witnessed by a person (not the
cutive Magistrate.
6. For request submitted along with indemnity bond Duplicate policy document will be dispatched to the Policy Owner's residence registered in Aditya Birla Sun
Life Insurance Company Limited (ABSLI) records. Once the Policy Owner receives the duplicate policy document, he can submit a fresh surrender request.
(Requests received from walk in customers) For Maharashtra state the indemnity bond or franking applicable is ` 600/- only and for other states franking applicable
is Rs 300/- this is as per amendment in the stamp duty on indemnity (Article 35) of Maharashtra stamp act 1958.
7. For request submitted along with address change request and indemnity bond,
the confirmation letter dispatch date, duplicate policy document will be dispatched to the customer’s residence registered in ABSLI records. Once the customer
receives the duplicate policy document, he can submit a fresh surrender request.
8. Section 10 (10D) of the Income - Tax Act 1961, provides exemption in respect of all the payments made for a life insurance policy which satisfies the prescribed
conditions of premium to sum assured ratio. In order to avail exemption under Section 10 (10D), the amount of premium payable to sum assured at any time of the term of
policy should not exceed defined ratio provided below.

Finance Act 2019 has introduced an amendment in TDS provision under Section 194DA in the Income Tax Act 1961 on the insurance policies.

Policy Issue Period Exemption Criteria

On or before 31st March 2003 No criteria prescribed (TDS Not applicable)
On or after 1st April 2003 but on Annual Premium should be maximum 20% of the Actual capital Sum Assured in any of the years OR Actual capital Sum
or before 31st March 2012 Assured should be minimum 5 times Premium in any of the years
On or after 1st April 2012 Annual Premium should be maximum 10% of the Actual capital Sum Assured in any of the years OR Actual capital sum
assured should be minimum 10 times Premium in any of the years

As per the new section (applicable from 1st September 2019), if the policy proceeds are not eligible for exemption under Section 10 (10D) of the Act and your total payout
value for a year exceeds Rs. 100,000, then the tax deductions will be as under:
• At 5% on the income (for valid PAN registered with us)
• At 20% (for valid PAN not registered with us)

The applicable deduction will be withheld by us before releasing the payment and the same shall be deposited with Government authorities

In case valid PAN details are not available with us, TDS certificates would not be generated from Income Tax website. Also, in the absence of PAN, TDS credit would not get
reflected in Form 26AS

Important points:
1. In case the TDS to be deposited with Government authorities is more than payout value, then the balance TDS shall be recovered from the existing fund of the policy.
2. In case the available Fund value post payout is also not sufficient for the TDS, then the surrender request shall be declined by ABSLI.
3. For NRI - TDS will be applicable as per relevant provisions of Income Tax Act 1961 or as per Double Taxation Avoidance Agreement between India and count of
residence of Policy Owner.

Aditya Birla Sun Life Insurance Company Limited

(Formerly known as Birla Sun Life Insurance Company Limited)
Regn. No.: 109. Regd Office: One Indiabulls Centre, Tower 1,
16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg,
Life Insurance
Elphinstone Road, Mumbai - 400013
+91 22 6723 9100 | CIN: U99999MH2000PLC128110
Aditya Birla Sun Life Insurance Company Ltd.
www.adityabirlasunlifeinsurance.com

“The Trade Logo “Aditya Birla Capital” Displayed Above Is Owned By ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) And Used By ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED
(ABSLI) under the License.”