I have taken LIC Endowment Assurance Policy (T.No.14) as per following details :
Yearly Premium : 1017/-
Policy Start Date : Sep-1997
Sum Assured : 25000
Policy Term : 25 Years
Vested Bonus : 23400
Current Surrender Value : 22214/-
I have paid premiums for 17 Years & current year premium is due for payment. I am not interested in continuing this policy as I want to consolidate all my investments and want to close all small & low return investments made.
Is it advisable to close this policy at this stage, since I have paid premium for 17 years & 8 years is balance. As per my current financial status, 25000 sum assured is very negligible amount & also paying premium of 1017 yearly is also very much affordable.
What will be amount I will be receiving on maturity if I continue this policy ?