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LIC premium and higher studies

Hi,
I have taken New Bima Gold Moneyback LIC Policy (20years) and has paid 3 installment half yearly, each amounting to 17k. I have now decided to leave the current job and move ahead with higher studies. So, it would be quite difficult to pay the premium while studying. Is there any way by which I can cancel or postpone the premium it ? My next premium in in October.
Please advise what are the possible approaches for me. Thanks a lot.

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