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,

Pranay

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.

    Thanks

    Ashal

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Our FREE Ebook!

Available only for first 100 people today

Download Our FREE Ebook!

Available only for first 100 people today