POSTED BY September 30, 2010 11:18 pm COMMENTS (2)ON
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 .
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2 replies on this article “LIC ULIP- WHT TO DO?”
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.
NO it wont be Taxable
U must pay your third Premium to Continue your Policy otherwise right now it is in lapsed status