lic pension plus plan……want my money back

POSTED BY nikhil chopra ON March 9, 2013 11:10 am COMMENTS (2)

hi i am  30 years old i bought lic pension plus plan as single premium (paid rs 300000 )policy on 30/10/2010……….now in 2013 i feel i did the wrong thing……can i surrender the policy?… it will mature in 2043……how much will be deducted if i want my money back……?

 

help please!!!

2 replies on this article “lic pension plus plan……want my money back”

  1. Dear Nikhil, as you purchased single prem. plan, please continue in the plan for the time being. As it’s a pension plan, the surrender amount ‘ll be taxable in the year of surrender, please do keep this thing also in mind.

    Thanks

    Ashal

  2. If you surrender now the current fund value will .get SB acc returns and after 5 years you will get an annuity

    If you have taken 80C deductions earlier they will be cancelled and you will need to pay tax on that amt when you surrender,

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