Hi,
I have taken a LIC Jeevan Saral policy just for the sake for the saving tax, Life insurance + Investment. Since i was guided by someone and didn’t have much idea about all these policies, i went for it. But now after doing some research I realise PPF + Term insurance is a better option for my need.
I have already given some Rs 49000/- premium since it’s the annual premium and it’s been an year since i purchased it. My question is that from Investment point of view, Can I surrender this policy now without much hassles and go for the PPF option?. I guess i should recover the loss of 49K (+ if any other charges) in some years. Am i correct?. Please guide. Thanks.