Feedback needed on LIC Jeevan Saathi

POSTED BY Vijay G ON June 18, 2013 3:55 pm COMMENTS (2)

I have already taken the LIC Jeevan Saathi (Endowment plan) 2 yrs back. It gives a coverage of Rs. 25L for the next 28 years. If I cancel this policy now, I lose about 2L that I have paid in premiums. But if I continue, I have the coverage and get about 1.75 times of the premium paid (very low returns) after 30 years.

Question is crazy: Should I lose the 2L and close the policy now or should I continue it?

2 replies on this article “Feedback needed on LIC Jeevan Saathi”

  1. VijayG says:
    June 19, 2013 at 12:51 pm

    I will check that, thank you!

    Regards
    Vijay

    Reply
  2. Free Financial Calculators says:
    June 18, 2013 at 5:28 pm

    Since the amount involved is quite high, pay premium for one more year and make the policy paid-up (check policy terms and conditions reg. this). you dont need to pay any more premiums. You will get a reduced insurance cover and you will get some amt upon maturity.

    You will need to take separate pure term life insurance. To see how much your approx. paid up value will be you can use this calculator:

    http://freefincal.wordpress.com/2013/02/02/insurance-policy-surrender-value-paid-up-value-calculator/

    Reply

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