Article 17:602 Surrender of the Contract

The policyholder may at any time require the insurer in writing to pay, in part or in full, the surrender value which the policy has attracted, provided that this does not take effect earlier than one year after the conclusion of the contract. The contract shall be adjusted or terminated accordingly.

Subject to Article 17:601, if a contract of life insurance which has attracted a surrender value is terminated, rescinded or avoided by the insurer, it is obliged to pay the surrender value, even in the case of Article 2:104.

The insurer shall inform the policyholder upon request but in any case every year about the current amount of the surrender value and the extent to which it is guaranteed.

The share of any profit to which the policyholder is entitled shall be paid in addition to the surrender value, unless the share has already been taken account of in the calculation of the surrender value.

Sums due under this Article shall be paid no later than two months after the receipt of the policyholder's request by the insurer.