I get the amount invested (50K*3) after 20 years ?
Do i get any benefits after 20 years ?
Do i get any insurance during 2o years ?

Regards,
Mayur

You are really at the worst point right now .. These policies are known to never give more than 4-6% in long run , at times even less than 3-4% (like recent Jeevan Ankur), its not just the final return , but also the flexibility of stopping premiums and geting back the money which should concern you . If you pay your next premium (6th half yearly) and then stop the policy , you will get just 30% of your 2 yrs premiums (first year premium is always excluded) , so it would be around 30% of 1 lac = 30k+ … but that money will be your income and it will be taxable ! ..

If you just paid the premium and want to close the policy , it will really hurt you , but over the long term it would be better to just stop this policy .. SO pay one more premium and and surrender it ..

Be a little more informed investor and do some basic maths.. doesnt take more than 30 min , saves lacs of money !

Manish

1. I have taken this policy blindly believing my LIC Agent “friend”
2. I read this article just “after: paying the premium today.

I have taken a Jeevan Tarang policy for a sum assured of 5 Lakh for 10 Years on 23/01/2010 with a premium of Rs. 26,690 half yearly and paid 5 instalments (total Rs. 1,33,450/- including today’s payment).

Now, please advise me what is better:
1. Complete the 3 years (paying last instalment due on 23/07/2012) and wait for 7 years for the surrender value?
2. Forget about the policy and curse my friend (myself as well)
3. Pay the last premium of Rs. 26,690 on 23/07/2012 and get the surrender value now (if it is morethan Rs. 30,000/)

Awaiting your valuable advice.
With best regards
Madhavan

Get a term plan for your insurance cover and invest the rest of the money in equity mutual funds for long term .. This will be better in long term ..

Manish

Thank for the reply. Pls. suggest me the options which I can opt now

1. Take loan from the premiums paid for three years and pay for the remaining 17 years and complete the policy. ( Will there be any interst for the loan taken?)

2. Stop the premium payment after three years and get the maturity benefit after 20 Years?

3. Closing the policy after paying for three years and getting the surrender value?

You will not get back more than 1 lac . The surrrender value after 3
yrs is just 30% of the premiums paid excluding 1 yrs premium ..
Considering that 17 more years are left .. it would be a right thing
to stop this policy and divert the same thing in equity mutual funds
keeping a long term in view ..

Its a very hard decisioin i know , but by paying more you will worsen
the situation more and more ..

I can see that you have made just few premiums (1 yrs) , just stop it
. Its a big loss , but a very small loss compared to what you will
loose in very long term

Buy the same insurance cover (25 lacs) in just 3-4k premium and invest
the rest money in installments per month .. this is more liquid ,
robust and high returns proposition

I have started a Jeevan Tarang Policy on 01/03/2010
with premium of Rs. 31406 ( Quarterly) and I will end up paying Rs.3,76,872 at the end of 3 years.

After reading the eye opener article and the review comments , I have decided to surrender the policy at the end of 3 Years ( 01/03/2013) .

So pls. tell me how much amount I will get back. Will I get the amount which I have paid to LIC?

Thanks

Rajan

I have started a Jeevan Tarang Policy on 01/03/2010
with premium of Rs. 31406 ( Quarterly) and I will end up paying Rs.2,51,248 at the end of 3 years.

After reading the eye opener article and the review comments , I have decided to surrender the policy at the end of 3 Years ( 01/03/2013) .

So pls. tell me how much amount I will get back. Will I get the amount which I have paid to LIC?

Thanks

Rajan