All life insurance policies come with a free-look period of 15 days. If you are not satisfied with the policy after purchasing it, you can choose to return it during the free-look period. In this case, the insurance provider will return the premium that you paid initially.
If you want to surrender a policy after the free-look period but before the completion of 5 years, most insurance providers will move the fund value into their Discontinuance Policy Fund. The appropriate fund value will, in this case, be paid to you after the 5-year lock-in period.
If you surrender your policy after the 5-year lock-in period, the fund value of your policy will be paid to you.