What are the conditions before one can partially withdraw money from an insurance plan?
Unit Linked Insurance Plans (ULIP) for example come with a lock-in period of 5 years, which means withdrawals during this period are not permitted. You can only make partial withdrawals after five years although this cannot be done from a unit linked pension plan. If the policy insures the life of a minor, partial withdrawals are permitted only when the minor reached 18 years of age.
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