Advice on Discontinuing or making policies as PAID UP ?

POSTED BY Jay ON March 2, 2014 10:09 am COMMENTS (3)

I am thinking to discontinue or convert to paid-up plan and planing to take term insurance

Please advice. Below are the policies all from LIC

Money back 20 year –started on june 2002
Marriage endow/edu annuity – 16 year started on march 2008
New Bhhima gold 16 yr, started on mar 2008
Komal jeevan 25 yr- pymt term -17 yr – started on Jan 2010

 

3 replies on this article “Advice on Discontinuing or making policies as PAID UP ?”

  1. ashalanshu says:

    Dear Jay, as you are having sufficient term cover, please opt to surrender the policies of less than 50% completed term. for policies more than 50% completed term, opt for paid up.

    Thanks

    Ashal

  2. Jay says:

    Thanks
    Sum assured for the above 4 policy are 1 lakh each.
    Only money back policy is paid more than 50%
    Is it worh to surredring mony back also.
    I already have SBI Life – eShield term policy and montly investments in MF’s

  3. ashalanshu says:

    Dear Jay, the policies where you have paid for more than 50% term, make paid up. For less than 50% paid term, opt for surrender.

    Thanks

    Ashal

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