Lic moneyback policy

POSTED BY Srabanti Modak ON July 7, 2012 11:17 am COMMENTS (2)

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?

2 replies on this article “Lic moneyback policy”

  1. 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.

    Thanks

    Ashal

  2. Srabanti

    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

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today