Dear Sir, I am misguided by a TATA AIA life agent by taking the policy named TATA AIA Life Maha Guarantee. Premium Rs. 29,059 yearly, Sum assured Rs.3,16,000, Policy term 15 years.This policy is not suitable for Investment purpose , only suitable for death benefit.death benefit in this policy is huge- twice of SA + Guaranteed addition.But the the maturity value is too low,after making calculations I see it will be – near about Rs.5,61,000 after giving premium (15*30000)=rs.4,50,000.I am not really interested in Death benefit.
But the positive point is that I have paid only 1 premium.I am not interested to continue this policy.Now what should be my next step, can anybody suggest me please ?
What is the meaning of reduced paid-up??