POSTED BY July 7, 2012 11:17 am COMMENTS (2)ON
hello sir, I have a LIC Money back policy. My policy started January 2009 & this is my 4th year of my policy. When I bought this policy I don’t know what is best for me. My agent was my close friend told me this policy is best. But now I think this policy not best for me. I want to stop this policy. What to do I do? Surrender this policy or Should I make my policy paid up? If I surrender how much percentage of my payable money company give me? or if I make it paid up how many days after I get my money which I pay as premium in 4 year? I don’t want any benefit. I just want back my money which I paid.
Please sir suggest me what is best for me?
2021 © Jagoinvestor.com All Right Reserved
2 replies on this article “Lic moneyback policy”
Dear Srabanti, please surrender the policy right now. You ‘ll get just 20% or a bit more money of the total paid by you till date. But you can invest the surrender amount as well as the prem. amount to make a decent corpus for you.
You are in bad situation , If you surrender right now ,you will get just 20-25% of your paid money , if you make it paid up , you will get money only after the policy matures , that would be 10-15-20 yrs , depending on your policy .
Understand how LIC policies works here : https://www.jagoinvestor.com/2011/08/lic-policies.html