New ulip surrender charges
ulip surrender charges for 10 year plan
In 1st year of redemption -15%
After 5th year no charges

Policy of more than 10 years
1st year- 12.5%
After 7th year no charges
Until now insurance companies charges surrender charge up to 90% of fund value but now IRDA announced that max surrender charge will be 15%. and if any insurance company is charging more than 15% then they can complain to IRDA.