Scribd
Upload
560 views

Surrender Application Form

The document is a surrender application form for an SBI Life Insurance policy. It requests the surrender of the policy and payment of the surrender value to the specified bank account. It includes details of the policy to be surrendered, a declaration that the policy has not been assigned or attached, and the policyholder's bank account details to receive the surrender value payment. Upon approval and payment, the insurance contract will be terminated.

Uploaded by

Ananthsai Srikanth
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PDF, TXT or read online on Scribd
560 views

Surrender Application Form

The document is a surrender application form for an SBI Life Insurance policy. It requests the surrender of the policy and payment of the surrender value to the specified bank account. It includes details of the policy to be surrendered, a declaration that the policy has not been assigned or attached, and the policyholder's bank account details to receive the surrender value payment. Upon approval and payment, the insurance contract will be terminated.

Uploaded by

Ananthsai Srikanth
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 1

SURRENDER APPLICATION FORM

SBI Life Policy No.

I / We __________________ ______________________ hereby surrender my above mentioned policy and request you to
settle the surrender value against my policy. Further I/ We hereby declare that I / We have not assigned the above SBI Life
Insurance Policy to anyone nor have I /we dealt with the same in any other manner. I/ We understand that upon surrender the
policy contract will be terminated and I / We will not be eligible for any benefits under the said policy.

I/We further declare that the policy was Issued / Not Issued under the provisions of MWP Act / HUF. I/WE further declare that
the said policy has not been attached by any Authority/Court and that there are no encumbrances against the policy.

I/We do hereby acknowledge receipt from SBI Life Insurance Co. Ltd., a sum of Rupees (in figures) _____________/-,
(Rupees ______________________________________________________only), being the Surrender Value. I herewith
enclose the Policy Document. (Strike off, if Policy Document is not submitted for any reason whatsoever).

My Bank Account Details (Mandatory)


Bank A/c No: __________________________ Bank Name: __________________________
IFS Code: __________________________ Branch Name: __________________________
Type of Account: __________________________

Signature of Witness: Signature of Policyholder/Assignee


(Assignee’s signature in case policy is assigned. In case of conditional
assignment, both policyholder & assignee should sign)

Name:………………………………. Name:…………………………………………….

Present Address:………………………………. Present Address:……………………………….


…………………………………………………… ……………………………………………………..
.………………………………………………….. .…………………………………………………….
Contact Number:………..……………………… Contact Number:………..………………………
(Complete address and contact number is Mandatory) (Complete address and contact number is Mandatory)

Declaration of an English knowing person when Policyholder signs in vernacular language or affixes his/her thumb impression:
I hereby declare that I have explained the contents of this form to the Policy Holder in __________________ language and that the Policy
Holder has affixed his/her Signature / Thumb impression on the form in my presence, after fully understanding the contents hereof.

Signature of the person making the declaration


Name & Address: _________________________
________________________________________

(If policyholder is an illiterate, his/her thumb impression must be attested by any gazzetted officer, notary, his banker with his
official seal or by an Official of SBI Life not below the Rank of AM)

BANKER’S ATTESTATION Affix One


Rupee
We hereby certify that the account details mentioned above are correct and as Revenue
per our records. stamp & Sign
Bank Authorized Signatory: __________________________ Across
Full Name with designation: __________________________
& SS No. (Affix Stamp)
Date: Place:
NOTE:
9 Account Details are mandatory. In case of non receipt of account number payment will not be processed.
9 For NRI/NRE account, letter from the bank is required for the direct credit of the surrender proceeds.
9 Please provide any one of the following:
• Cancelled cheque leaf along with preprinted name
• Photocopy of the cheque leaf along with preprinted name
• Attestation by branch manager of the bank where the bank account is being maintained

Disclaimer: Please note that direct transfer will not be possible if the banks do not allow such a transfer. SBI life will not be responsible and
liable for any losses occurred due to incorrect account details provided by the policyholder.

SBI Life Insurance Co. Ltd,


Corporate Office: "Natraj", M.V Road & Western Express Highway Junction, Andheri (East), Mumbai-400069
Central Processing Center: Kapas Bhavan, Plot No.3A, Sector No.10, CBD Belapur, Navi Mumbai-400614
PS-12/Ver1.5/15.3.2011 Page 1 of 1

You might also like