AIA Life Protection
Investment Linked Policies (ILP)
Asked by Anonymous
Asked on 02 Aug 2019
I have decided to cancel my ILP after 1 year. I called AIA customer service the day I received the payment notice of $3k (on 12 Jul) to cancel it because they automatically charged it to my credit card. They told me that I need to cancel it before 12 Aug to get the refund from AIA, so I can use the money to pay for my credit card. I met up with my agent to submit the withdrawal forms. However, instead of receiving the full $3k, I only got $800 from it? Why is this so even though I cancelled it?
You have to let us know what do you mean by full refund?
If you are beyond the freelook period of 15 days, you will likely not be entitled to any refund of premiums.
If you are looking at surrendering, there are surrender charges, as insurance is a long time commitment.
Hope you let us know exactly what do you mean.
Updated on 04 Aug 2019
on 04 Aug 2019