I took Max New York life insurance policy – Whole life Plan 4 years back. I have paid premium of Rs.20000 per year for 3 years and 4th year I paid Rs.16000 for the 4th year.
Sum assuered is : Rs. 980658
Insurance term: 100 years
14 more years I have to pay the premium after that the bonus is more than my premium so that I don’t need to pay the premium.
After 19 years I will start getting the income for this plan as bonus is more than premium.
Current surrender value is 18000/-
Please suggest me whether I should continues the policy or should surrender/close?