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POSTED BY ON September 7, 2012 6:01 pm COMMENTS (6)
Hi Team,
I am in such a horns of dilemma!! Need real tips on this…
1. I have a one year old Jeevan shree policy. 16yrs premium and 25yrs term with around 24K premium as usual. But after reading the forum getting confuse to continue with that. If I stop paying this without surrendering the plan what would happen? I got to know that I would get 30% if I surrender.
2. I wish to invest the same in Jeevan saral of same amount for 20yrs. Do u think that even would be better? If slightly better than Jeevan shree 1. Please help me.
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Santu
You can surrender only after 3 yrs , it means if only you pay for 2 more years , you can surrender, but you will have to pay 48k , and then you will get back 20k back in total , so it makes sense to take a loss of 24k right now , rather than more .
Right now , you are very deeply constrained by your thought process and psychologically,. you are not able to take the loss . Better think rationally. Right now the best thing you can do is just forget the policy and what happened. Its tough to do .
Manish
I have already planned to take term plan. Because I have seen and understood the article “create child policy by own” . That is alright. That is very true. Please let me know what I need to do in this scenario.
Dear Santtu, writing is crystal clear on the wall. First purchase term plan as per your requirement immediately. Then surrender this Jeevan Shree. Treat the loss of your own money as a good lesson for future decisions.
Thanks
Ashal
That’s partially true. But waiting for some real tips, if any, pls.
Dear Santtu, if you die tomorrow, how much money these Shrees or Sarals ‘ll pay to your family? May I know that value? Also tell me, what actual amount is required by your family to sustain life in your absence?
Thanks
Ashal
That is like saying, “Hey LIC (and the agent), I am not happy with you giving me sub-FD returns (and sub-inflation) on this policy for 25 years, so please give me some of my own money (keep the rest) if possible, so that I can again give you money for just the next 20 years to rip me off.”
Enjoy.