Stay updated with breaking news from Surrender Values. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Giving in to the life insurance industry’s demands, the insurance regulator has junked its December 2023 draft that proposed higher surrender values – payout on early exit – for policyholders.
Insurers have raised concerns about persistency, particularly for long-term products with premium paying terms exceeding 10 years. They fear that distributors may incentivize policyholders to surrender existing policies and switch to newer ones promising higher returns.
Value of surrendered annuity policies see an 18% increase in Q3 2023