Hi Folks,

I know that I shouldn´t have done this stupid mistake, but its too late to regret about my decision. It was in 2006 when Term insurance was not popularly known (or dint even exist?) to me, so the only option I had is to take an endowment policy with the LIC. Now after getting myself a little awareness (thanks to jagoinvestor and Asan ideas for wealth) I realized I am pumping my money in to something which doesn’t worth.

I have taken two policies, 1) Jeevan Anand (T.no 149) for 5 Lakhs for which I am paying premium around 26K (in which vested bonus till is 1,83,000), 2) Bima Gold (T.no. 174) for 10 Lakhs, the premium is 34,681 (this is a money back policy so I have received 1 Lakh on the 10th and 14th year), the term for both the policies are 20 years. I obviously don’t want to continue this please suggest me what would be the best option? closure or paid up? and how much money will I get in respective scenarios.

Recently I have bought a term insurance policy for 1 cr so my life is covered. Please let me know how can I get out from this with less loss.

Thanks a lot.