Need help regarding LIC’s Money back plan 25 yrs

POSTED BY bhawna ON December 27, 2014 11:24 am ONE COMMENT

Hello,

I have taken a LIC’s New Money Back Plan-25 years in year Jan 2014. Quarterly premium is Rs. 14,662.  I have paid 3 premiums[total 44000].  Now I am thinking to stop this LIC plan.

Please suggest me :

1) It will be good if I stop it right now. If I do so, then Will I get some money or not?

2) Or I stop it after 1 year of completion. Then how much will I get back.

3) Please suggest me the best option so that I don\’t lose my money I have paid in premiums ie. Rs. 44,000. Please reply ASAP.

Many Thanks

Bhawna

One reply on this article “Need help regarding LIC’s Money back plan 25 yrs”

  1. You will loose money in all the cases .If you continue it till end, you will loose the potential return which you could have generated through other means.

    If you stop before that, you will loose the money in absolute terms . Its better to get rid of it and reuse the next premium amounts in something better and simple !

    Manish

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