New Bima Gold (Money back plan) – Surrender value

POSTED BY Karthik ON August 31, 2012 3:25 pm ONE COMMENT

Hi,

I have a LIC policy – New Bima Gold
Sum Assured  100,000
Half Yearly premium 2599
Policy started on Nov 2006
Premium paid till now = 31188 (6 years, ie 12 premiums)

I have received a money back amount of 15000 on 2010 Nov.

If I surrender this policy, will there any Surrender value?

Should I make four more payments of 2599 to receive another 15k money back on 2014 Nov?

or, just surrender the policy now?

One reply on this article “New Bima Gold (Money back plan) – Surrender value”

  1. Dear Karthik, yes the policy do has a surrender value as on date. How, much, please check LIC for the same. To continue or surrender right now ‘ll depend upon the surrender amount & your own choice. From return point of view, this is not a good investment policy (insurance is already very poor in this policy hence not commenting on that).

    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Your email address will not be published.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.