Life insurance – whether to continue or surrender

POSTED BY Abhishek ON July 17, 2012 2:07 am COMMENTS (2)

Hi,
I got Tata AIG(A) Mahalife Gold policy with Sum assured of 3L for which i have paid 4 premiums of 26k yearly. However i feel that SA is not enough and iam planning to surrender this policy and take a new term policy. Do you think it is beneficial to surrender this policy (surrender value is 42K) and go for isecure term plan from Bajaj-Allianz?

Thanks for your help!!

2 replies on this article “Life insurance – whether to continue or surrender”

  1. Biraja says:

    Yes surrender it. 3L is nothing for insurance purpose. Go for pure term plan and with your surrender value , you can go for PPF or good mutual fund for long term tax free gain…

  2. Dear Abhishek, surrender is good. Regarding the term plan, may I know the reason that you opted for Bajaj? Just a last note, please purchase a term plan first & then only go for surrender.

    thanks

    Ashal

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