Is it possible to convert the existing LIC term insurance to Its Online Term Plan ?

POSTED BY Revathy ON May 21, 2014 10:34 pm COMMENTS (2)

Myself has taken LIC amulya jeevan-1 for 25 lacs before 6 month and opted for half yearly premium.

Recently LIC has reduced its premium for offline & the newly introduced online term policy seems even cheaper.so I have a thought that – is it possible to convert the existing policy to the new one? Or can I take a fresh policy instead of existing one?

Is there any issue for me take fresh policy as I have one already but I am not going to continue the old one.

Pls help out and clarify the things

2 replies on this article “Is it possible to convert the existing LIC term insurance to Its Online Term Plan ?”

  1. sreejeshts says:

    You have to stop paying to existing policy & apply for new online plan. There is no transfer.

    1. sreejeshts says:

      In addition the online plan does not have any rider option available.

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