LIC ULIP- WHT TO DO?

POSTED BY AMIT ON September 30, 2010 11:18 pm COMMENTS (2)

HI,i m having a lic market plus table no.181 with growth option since march 2008.annual premium is 10000 rs.i have paid 2 premiums.i hvn’t paid 2010 annual premium yet.now my questions are-after paying third premium 1.should i continue wid it or not?2.if i stop paying premium after lock in period but want to sell my units after april 2012 is it possible or not?3.if i sell my units after april 2012(DTC APPLICABLE),the amount i get will be taxable or not?thanx in advance .

2 replies on this article “LIC ULIP- WHT TO DO?”

  1. Hemant Beniwal says:
    October 1, 2010 at 5:36 am

    1. It will depend upon alternative investment opportunity
    2. If you surrender it before completion of 5 years & if you have shown this policy to take section 80 c benefit, you have to pay tax. (eg. if you have saved tax of Rs 3000 through this policy you have to pay it as a tax in policy surrender year)
    3. DTC is changing every quarter, we can’t take any call.

    Reply
  2. Manish Bansal says:
    September 30, 2010 at 11:21 pm

    NO it wont be Taxable

    U must pay your third Premium to Continue your Policy otherwise right now it is in lapsed status

    Reply

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Your email address will not be published.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.