Difference between making an Insurance Policy paid up against handover it

POSTED BY Ashish Garg ON March 18, 2013 2:32 pm ONE COMMENT

Hi,

I have a Jeevan Anand life Insurance policy from LIC (stated in Feb 2004) and taken it for 20 years. The amount of insurance is just Rs.2,00,000 and yearly premium Rs.11,348. I have been paying the premium religiously and off late have realised that its just a burden I am carrying after taking the term plans in recent time (for Rs.1.5Cr).

I have been reading about making the policy paid up / hand over it. I would like to know the difference between two and which one is better and beneficial (considering lesser loss)

Please explain with an example, if possible.

Regards,

One reply on this article “Difference between making an Insurance Policy paid up against handover it”

  1. Dear Ashish, please check the below link.

    http://freefincal.wordpress.com/insurance-policy-surrender-value-paid-up-value-calculator/

    You ‘ll gat a calculated answer to decide yourself.

    Thanks

    Ashal

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