Can I convert to new LIC policy from old policy ?

POSTED BY Aditya ON January 31, 2014 3:17 pm COMMENTS (8)

Hi Sir,

Can you please advise if we can convert the existing LIC policies into the new customer friendly policies by LIC. I have Jeevan Anand with Rs. 4,00,000

8 replies on this article “Can I convert to new LIC policy from old policy ?”

  1. divya.advisor says:

    When did you buy the policy. If the product was bought in the transition period to the new norm as per IRDA guidelines you should have an option. bought between FEB-2013 to DEC-2014
    Contact the branch for details. Your agent may not be able to help you much. Surrender benefit is better in new norms, death benefit is bigger but will it return more money on maturity One cannot say

  2. ashalanshu says:

    Dear Aditya, thanks for your trust but as per my personal knowledge, LIC normally does not entertain such conversion requests.

    Thanks

    Ashal

  3. Aditya says:

    I will trust Jaago Investor more than LIC Customer care…..

  4. ashalanshu says:

    Dear Aditya, still if you want to cross check regarding migration to new policy allowed by LIC, please contact LIC customer care with same query.

    Thanks

    Ashal

  5. Aditya says:

    ok.. Thanks Ashal

  6. ashalanshu says:

    Dear Aditya, dump the evil is your only option. No need to carry along the useless things with you. 🙂

    Thanks

    Ashal

  7. ashalanshu says:

    Dear Aditya, do you really think New Jeevan anand is a good policy? If yes,. please tell me on what reasons you think so.

    Thanks

    Ashal

    1. Aditya says:

      Hi Ashal,

      Since the new policy is better than the old policy as per the new Customer Friendly guidelines by IRDA. Hence checking if it makes any sense to migrate if possible

      I do not believe in Investment cum Insurance products. I would want to keep them as separate as possible This product had been tagged to me and I just want to have the lesser of the evil

      Thanks

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today