LIC Jeevan Shree-I

POSTED BY Arudra ON September 27, 2010 3:35 pm COMMENTS (2)

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?

Regards,
Arudra.

2 replies on this article “LIC Jeevan Shree-I”

  1. Manish Chauhan says:
    September 27, 2010 at 6:39 pm

    Surrendering would be a better option rahter then continuing .. you are getting raped each year. . dont allow it after you came to know atleast

    Reply
  2. MoneySavingsHelp says:
    September 27, 2010 at 6:37 pm

    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.
    MoneySavingsHelp

    Reply

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