{"id":1349,"date":"2017-03-29T13:17:39","date_gmt":"2017-03-29T11:17:39","guid":{"rendered":"https:\/\/www.namfisa.com.na\/educates\/?post_type=right_responsibility&p=1349"},"modified":"2025-07-16T14:50:02","modified_gmt":"2025-07-16T12:50:02","slug":"effects-of-early-withdrawal-or-surrender-of-investment-plans-2","status":"publish","type":"post","link":"https:\/\/www.namfisa.com.na\/educates\/effects-of-early-withdrawal-or-surrender-of-investment-plans-2\/","title":{"rendered":"Effects of early withdrawal or surrender of investment plans"},"content":{"rendered":"\t\t
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In tough economic times, people are sometimes left scrambling for cash to meet everyday expenses and lifestyle demands. Your insurance investments are a possible source of funds to meet your financial needs.\nYou may either opt for early withdrawal or surrender. Surrendering an insurance policy means exiting from the insurance policy before the maturity. It is the voluntary termination of the insurance contract by the policyholder.\nIt is however important to remember the purpose of insurance investments. <\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The most relevant ones are:<\/h5><\/div>
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  • <\/span>Long-term savings for retirement \u2013 financial consequences of a longer-than-expected life (longevity).<\/li>
  • <\/span>Protection against financial consequences of early death, disability.<\/li><\/ul><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    Key Considerations Before Surrendering or Cashing in an Insurance Policy Early<\/h3><\/span><\/div>
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    • <\/span>Surrender charges that reduce your payout<\/li>
    • <\/span>Inability to obtain coverage or the same amount of coverage at the same price<\/li>
    • <\/span>Loss of guaranteed interest rates tied to the policy<\/li>
    • <\/span>Opportunity cost of losing future savings benefits<\/li>
    • <\/span>Difficulty getting similar coverage again at the same cost or terms<\/li>
    • <\/span>Loss of guaranteed interest rate<\/li><\/ul><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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      <\/h3><\/div>
      If you are in doubt or need more information about the risks or consequences of early withdrawal or cancellation, please contact your Financial Advisor or NAMFISA.\nNAMFISA Complaints Department: (061) 290 5000 (main) or 290 5133 (Ms Marina K. Ishidhimba) or 290 5207 (Ms Hilka Alberto), Fax: (061) 290 5122; for online complaints email complaints@namfisa.com.na; visit www.namfisa.com.na or visit us on the: 6th Floor, Alexander Forbes House, 154 Independence Avenue, Windhoek.\n* NAMFISA treats all information obtained from the public\nwith confidentiality.\nIssued by:\nPhillip N. Shiimi\nREGISTRAR: LONG- AND SHORT-TERM INSURANCE<\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

      In tough economic times, people are sometimes left scrambling for cash to meet everyday expenses and lifestyle demands. Your insurance investments are a possible source of funds to meet your<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":[],"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueState":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":"","_VenueShowMap":false,"_VenueShowMapLink":false,"footnotes":""},"categories":[425],"tags":[],"class_list":["post-1349","post","type-post","status-publish","format-standard","hentry","category-rights-and-responsibilities"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/comments?post=1349"}],"version-history":[{"count":9,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1349\/revisions"}],"predecessor-version":[{"id":35478,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/posts\/1349\/revisions\/35478"}],"wp:attachment":[{"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/media?parent=1349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/categories?post=1349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.namfisa.com.na\/educates\/wp-json\/wp\/v2\/tags?post=1349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}