Insurance policies – To Stay or Quit ?

POSTED BY soudiptaadhikari ON December 7, 2013 6:53 am COMMENTS (8)

Dear Sir,

I have following policies:-

1. Reliance Guaranteed Money Back Plan-40,000/- annual : started on 08/11/11.

2.Reliance Highest NAV Advantage plan -RP-20,000/- annual : started on 13/09/11.

3.LIC Endowment Assurance Policy-19,000/- annual : started on 10/02/10.

4.LIC Money Back Policy-12,700/- annual : started on 28/02/04.

5.LIC Jeevan Nidhi Policy-10,100/- annual : started on 28/02/05.

May I request you all please suggest if should I continue with this policies or quit.

I have mutual fund also.


8 replies on this article “Insurance policies – To Stay or Quit ?”

  1. ashalanshu says:

    Dear Soudipta, for 2011 policy you may not get any amount if only 2 yly prem. have been paid. For 2010 policy, the surrender value ‘ll be 30% of the 2nd and 3rd year’s prem. paid by you along with some Bonus.



  2. soudiptaadhikari says:

    Any Idea What is the % amount money , I will get for policy started in 2010 & 2011?

  3. ashalanshu says:

    Dear Soudipta, the paid up policy money ‘ll be returned to you only at the maturity. To make the policy paid up, please contact your policy serving branch.



  4. soudiptaadhikari says:

    What is the procedure to do paid off a policy ? Will they give back the money now or after completion of full term of the policy

  5. soudiptaadhikari says:

    Any Idea What is the % amount money , I will get for policy started in 2010 & 2011? And for paid up policy for 2004 & 2005

  6. ashalanshu says:

    Dear Soudipta, now what is the take of your money’s friends for your situation? In my personal opinion, please surrender the policies started in 2010 and 2011. Make the policis paid up for 2004 and 2005.

    Purchase adequate Term cover for financial safety of your family.

    Invest your hard earned money into pure investment instruments like PF, PPF, RDs, FDs, MFs.



  7. soudiptaadhikari says:

    They showed bright returns & agents were friends

  8. ashalanshu says:

    Dear Soudipta, why did you purchase so many policies?



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