Guidance on surrendering LIC Jeevan Anand policy , have paid for 4 yrs ?

POSTED BY raghuvit ON December 13, 2014 1:10 pm COMMENTS (4)

Hello Sir, I have a LIC jeevan anand policy of Rs 50k per year and have paid 4 years. I realized that its not worthy one and thinking of surrendering it. I have 2 questions on this. Should i close this now or after completing 5 years? I read in some blog that only after completing 5 years we would get the bonus accrued.

Do i need to pay the premium if i intend to close the policy next year? My due date is January 2015. Will they add bonus even though i don\’t pay this premium, I guess bonus will be declared on financial year end that is Mar-Apr 2015?

4 replies on this article “Guidance on surrendering LIC Jeevan Anand policy , have paid for 4 yrs ?”

  1. sharath Mumbai says:
    December 23, 2014 at 2:31 pm

    you can find your answer here:

    http://licinsurancereview.blogspot.in/2013/03/how-to-calculate-surrender-value-of-lic.html

    Reply
    1. raghuvit says:
      December 24, 2014 at 3:07 pm

      Thanks Sharath

      Reply
  2. naveenv999 says:
    December 19, 2014 at 4:26 pm

    Hello Raghuvit,

    You can surrender any LIC Policy that is active and minimum 3 years of premiums paid. you will get around 30% of premium paid amount.
    Please surrender now and get Good Term insurance Policy.

    -Naveen

    Reply
    1. raghuvit says:
      December 24, 2014 at 3:06 pm

      Thank you naveen.

      Reply

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