Hi
Its been 2 years since i got a job and like most of others I have taken a LIC jeevan Saral Policy just to save tax . I havent analyzed much in my first year and like a dumb fellow took jeevan saral policy for premium of 48000/- for 21 years :(..
Now Since I have to pay my 2nd year premium ,I have analyzed a bit on this policy ,but sadly came to know that the returns are very less or the policy is not good. The only good thing that i have done is to divide 48000 into 4 bonds of 12000 each
So friends I need 2 suggestions :
1. My Lic advisor told me we can withdraw after 10 years ,I am not expecting much returns but If i withdraw after 16 years will I get an interest rate of 8.5% or atleast 8% ?
(In banks,for 8% I get around 15.5 lakhs) please tell me how much interest % I will get
2. If i dont even get 8%,I am planning to surrender one or two policies now only and try PPF or something,is this a good option to surrender after one years..
Please suggest me