How much will I get incase of Paid up policy ?

POSTED BY CHETAN MAHETA ON January 14, 2014 9:16 am COMMENTS (2)

Dear Friends,

I am Holding LIC Policy of SA Rs.1250000/- and Premium of Rs.30424/-

I have ALready Paid 3 Premiums. I Dont Think to Surrender as well as Continue.

I have Heard somewhere that Policy will become paid up. So What I Will Receive at the End of Policy tenure if it Becomes Paid up ??

thanks

2 replies on this article “How much will I get incase of Paid up policy ?”

  1. ashalanshu says:

    Dear Chetan, a paid up value ‘ll be assigned to you today but ‘ll be given only at the completion of your policy term. In between this money ‘ll not earn any more return. Now do tell me are you OK to get 3 prem. after 20Y (if that’s your policy term for example) where inflation has already eroded your purchasing power for this amount or receive the surrender value today and invest the same to recover not only your basic loss but some positive return also?

    Choice rests with you that you ‘ll go to amputate a finger today or an ARM tomorrow.

    Thanks

    Ashal

  2. viplav says:

    in the words of great baba kapil sharma, you will get ‘baba ji ka thullu’.

    Insurance other than term insurance it ‘bakwas’, break even in these kind of policiy is anything from 3 years to 5 years. If you break it now, then you may get around same amount you invested.

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