ING Vyasa Whole New life Fulfulling

POSTED BY manikambh ON April 5, 2014 10:21 pm ONE COMMENT

I took the policy for sum assured 2.4 L and for a premium 24 K per year.  I paid for one year and am in no way to continue this policy since I learnt my lesson to not to invest in these type of money back policies.

Can I just not pay the premium and am ok to have that 24 K loss ? What are the tax implications as employer already considered 24 K in my 80 C?

One reply on this article “ING Vyasa Whole New life Fulfulling”

  1. ashalanshu says:

    Dear Manikambh, no problem on taxation front as you are not getting surrender amount from the policy and you are simply stopping the policy from current FY. Yes you can stop paying prem. You should inform your insurer for your wish that you do not want to continue with the policy.

    Thanks

    Ashal

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