Paid 2 lacs in Jeevan Saral, Surrender value is 1.7 lacs – What a joke ?

POSTED BY sandeepMTP ON March 4, 2014 2:36 pm COMMENTS (2)

Hi ,

I have a Jeevan Saral policy for which I am paying Rs.46,452.00 per year. i paid my 5th installment on 11.02.14.

1) Please tell me the best time to surrender it. Now or after 31st Mar 2014 or in January 2015 before the next due date of 11.02.2015. ( what is special surrender value, is this including any LA or Loyalty Bonus)

2) As if today my surrender value informed over the phone to me by LIC is 173001.00 ( what a joke!!!) I am in no mood to continue.

3) is it possible to continue it without paying any premium and surrender it any time.

Please advise and answer all my question as my next step will be based on your reply.

Regards

Sandeep

2 replies on this article “Paid 2 lacs in Jeevan Saral, Surrender value is 1.7 lacs – What a joke ?”

  1. ashalanshu says:
    March 5, 2014 at 2:35 am

    Dear Sandeep, w’d you like to amputate a finger today or an arm tomorrow? Choice rests with you.

    Thanks

    Ashal

    Reply
  2. Raja says:
    March 4, 2014 at 5:11 pm

    Read your policy document for all the clauses regarding surrendering. The surrender value is based on the number of years you have held the policy. Usually if you stop paying the premium, the life insurance cover stops but the unit linked investment still continues. So you can surrender anytime you want, even after waiting for few years. Mostly, surrendering such policies within the first few years will leave you with a loss, but at the same time there is no guarentee of returns even if you stay invested for 10 more years. So as many people on this forum say – “would you cut a finger today or the whole hand after a few years”

    Reply

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