LIC pension plus (Table No 803) complete withdrawal calculation before or after 5 years

POSTED BY indraneel_ch ON October 30, 2013 10:47 am COMMENTS (3)

I have a LIC pension plus (T No 803) commencement on 24-Sep-2010. I am paying quarterly premium of Rs.12,000.00/-. Till now I have paid Rs.1,56,000.00/-.

Now I want to complete withdrawal of my above policy. At looking at the 5 years lock-in clause of the policy now I have 2 options. First, pay my premiums for next 2 years. Second, do not pay any more premiums. How LIC will calculate my fund value in both the scenarios? Which will be good?

Please help as from policy documents I am not able understand and conclude the same.

3 replies on this article “LIC pension plus (Table No 803) complete withdrawal calculation before or after 5 years”

  1. Kaushal says:

    Would this surrender amount taxable or will tds be deducted from surrender amount?

  2. ashalanshu says:

    Dear Indraneel, as you ‘ll stop investing fresh, the fund value ‘ll not increase rapidly due to deduction of charges. My personal take, invest your fresh prem. amount elsewhere to earn higher return and kep the policy as it is with prem. holiday. After 5Y, redeem the amount and invest elsehwere.

    Thanks

    Ashal

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