LIC Retire n Enjoy – Need Help

POSTED BY arunnura ON October 4, 2014 9:36 am NO COMMENTS

I have made my first premium towards LIC Retire n Enjoy plan this April and my premium is very high – 1.8L and this includes Rs 11,000 extra as i am obese.

I did read the posts across various websites and noticed that, i have three options : 1. Stop and come out now, 2. Wait till 3 yrs and come out when each of the plan is done for three years, 3. Continue till maturity.
Following are my questions now,

1. If i want to come out immediately, i am at the risk of Losing 1.8L. Considering the low returns and the plan does not beat inflation, is it advisable for me to loose 1.8L and plan ahead?

2. If i wait till 3 years and surrender, i.e. 1.8*3 = 5.4 L, do i stand a chance of getting back more of my money?

3. If Making this plan paid up after paying for 3 years and keeping this money there till maturity is ok? Would it pay me better than option 1.

4. Worst case, if i choose to stay, am i really incurring a loss or it would be as if my money has been stashed away in a savings bank account + life cover?

5. Considering that i am diversifying my investments, can this one basket of endowment policies be one of my investment instrument? Please share your thoughts.

Please let me know in detail. I am terribly confused and anxious now. I trusted someone blindly and fell into this.

I want to make sure i research completely before i take a decision further.

Expecting your reply soon.

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Your email address will not be published.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