Once the deposit policy has been taken up by the person, then he cannot cancel out the policy. The policy can be refunded and cancelled out if the depositor's death happens, and in such case the depositor's death certificate is to be produced in front of the company by the nominee and the money will be credited to the bank account of the nominee of that particular account .
The policy can be refunded and cancelled only after 6 months and the ROI being provided earlier on the running policy will be reduced to 2 % from the exisiting one.