I HAVE TAKEN A POLICY FROM LIC ITS DETAILS ARE AS FOLLOWS:
Plan \”Bima Gold (T.No:174)\”
Policy No 803328062, Plan 174
Accrued Bonus 0, Loan Eligibility Amount 0
Commencement Date \”17/03/2006 , Age 30, (-)\”
Sum Assured Rs.500,000.00
Policy Term \”20 (Premimum Payment Term :20)\”
Premimum Rs. 17060 (Payble Yearly)
Premimum Status \”Normal Premimum Paying Policy\”
I do not remember exactly what my agent said, but I think I may not pay the premimum yearly, every alternative year or after every two years I can pay some thing like that.
But I am paying every year since 17.03.2006.
My dought is what will happen to the extra premimum I\’ve already paid??, is it correct to pay like that??, kindly guide me.
As per the below condition of table 174, I\’ve received Rs.50000 in year 2010
\”\”For policy term 20 years : 10% of the Sum Assured under Basic Plan at the end of each 4th, 8th, 12th & 16th policy year\”\”