लोग पॉलिसी सरेंडर क्यों करते है जानिए 10 कारण | पॉलिसी सरेंडर होने से कैसे बचाए | PART 1

लोग पॉलिसी सरेंडर क्यों करते है जानिए 10 कारण | पॉलिसी सरेंडर होने से कैसे बचाए | PART 1
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People may surrender their life insurance policies for several reasons. Here are ten common ones:
1. Financial Hardship: If individuals face a financial crisis or unexpected expenses, surrendering a policy provides immediate cash.
2. High Premium Costs: Premiums can be expensive, and people may struggle to afford them over time, leading to policy surrender.
3. Better Investment Opportunities: Some may find other investments with higher returns and surrender their policies to reallocate funds.
4. End of Coverage Needs: If a person’s financial obligations (like mortgage or children’s education) are no longer a concern, they may feel the policy is no longer necessary.
5. Underperformance: Cash-value policies, such as whole life, may underperform compared to expectations, prompting policyholders to surrender them.
6. Debt Repayment: Some individuals surrender their policies to clear high-interest debts, such as credit cards or loan debt.
7. Changing Financial Goals: As financial situations or life stages change, policyholders may seek different types of insurance or investment products.
8. Dissatisfaction with Policy: Lack of transparency, poor customer service, or changes in policy terms may push people to give up their policy.
9. Policy Loan Accumulation: Policy loans taken against cash-value policies accumulate interest; if unpaid, they reduce the policy's cash value, which may lead to surrendering the policy.
10. Medical Advancements: Advances in healthcare and longevity might reduce the perceived necessity for life insurance, particularly if policyholders feel financially secure without it.
Surrendering a policy can have implications, so it's often best to explore alternatives like policy loans, reduced paid-up options, or selling the policy in the secondary market.
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TIMESTAMP
01:40 Financial Problem
02:27 Lack of Knowledge
03:25 Premium Increasing
04:21 Short Term Benefit
05:09 More Option
06:42 Patience For Long Term
08:05 Mindset
09:16 Term and Condition
11:13 Multiple Choice
13:12 Emotionally Brokenout
14:20 Introduction
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