POSTED BY September 27, 2010 3:35 pm COMMENTS (2)ON
I have a LIC Jeevan Shree-I policy (Table – 162) which I took [was forced to take 🙁 ] in the year 2005. The premium of the policy is Rs. 25300/- per year. Premium paying term is 16 years and policy term is 25 years. When I took this policy I did not know any thing about financial planning. Now, when I calculate the maturity returns, they are not attractive. If I want to surrender the policy, i think i will not get more than Rs.30-35k. (Out of Rs.126500, I paid as premium). What should I do now. Should I continue with this policy or surrender it. Any suggestions please?
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2 replies on this article “LIC Jeevan Shree-I”
Surrendering would be a better option rahter then continuing .. you are getting raped each year. . dont allow it after you came to know atleast
Do not surrender your policy. You’ll hardly get 30% of your total premium paid+accrued bonus.
If you don’t want to continue, just stop paying premium of this policy & wait till maturity. On maturity, you’ll get total premium paid till date + accrued bonus on that without any interest.
Contact the customer care centre of LIC to confirm it or go through your policy bond documents.
Hope it will help you.