Need advice for 3 LIC policy I hold (urgent)

POSTED BY pranaykr.m ON February 16, 2014 1:54 pm COMMENTS (2)

Dear sir,

I’ve taken 3 Life Insurance from LIC as below.

1. Jeevan Saral(T165) – 24500 Qtly for 20 yrs S.A – 20,00,000/-

2. Jeevan Anand(T149) – 15,237 qtly for 25 yrs SA – 15,00,000/-

3. Money Back(T75) – 16,137 Qtly – SA – 10,00,000/-

All the policies commencing from June’13. So far I’ve Paid 3 premium for all the policies. As my family(4 members) fully dependent on me(25 Yrs & single) only agent convince me to take policies like that way. Now after reading all the articles I’m confuse that if I took correct decisions. Shall I discontinue or reduce the premium? Please advice me. I went to LIC branch office before paying 3rd premium & they informed me that it’s not possible to reduce premium within a year. Please advise me on that urgently.

Thanks & regards,


2 replies on this article “Need advice for 3 LIC policy I hold (urgent)”

  1. pranaykr.m says:

    Dear Mr Ashal,

    Many thanks for your quick reply. I’ll look for a term policy.

  2. ashalanshu says:

    Dear Pranay, it’s very hard to say but still I w’d say – stop paying these policies. Please purchase a term cover of at least 15 times of your yly income from the insurer of your choice.



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