POSTED BY September 29, 2010 10:44 am COMMENTS (4)ON
I have 2 ULIP policies from LIC of India. Both are active.
1. Policy :Money Plus 180
Date : 2007
Policy Term : 20 (Premium term : 20)
Have paid 4 yearly premium.
2. Policy : Profit Plus 188
Date : 2008
Policy Term : 20 (Premium term : 5)
Have paid 3 year premium.
I would like to know can I surrender these(or any one) policies? If yes How much will be the surrender charges?
In case I don’t want to pay any surrender charges, How long I have to hold these policies?
And can I paid up these? If yes, what are the drawbacks?
Actually I am confused about the “premiunm term” , what does that mean?
And whats your general opinion about this situation of mine? what shd be done?
And No, I was not mislead into buying these. 😐