Myself 27years old. I have started with an “Endowment policy’ from LIC last year. Its Jeevan Anand. Started last year and two half year premiums of 13,763 each have been paid. (27,526 in total). After reading Jago Investor forum and other online articles, I could realise that it was a big mistake in my finanacial life to start with an ‘endowment policy’ .
So now I have started a pure term plan from another insurance company (50lakhs and Annual premium around 6000) and have also started investing in mutual funds. Now the next premium paying date for my LIC policy is nearing. Im in a dilemma whether to continue with this LIC or not.
Also its not that easy to escape from the LIC agent as he happens to be my uncle. Leave that apart but can anyone here please advise me on what can be done with this LIC policy? I mean is it wise to continue it?