POSTED BY May 14, 2012 1:31 pm COMMENTS (3)ON
I am currently having jeevan Anand LIC policy. I want your suggestion regarding paid-up and surrender. The following are the details of the amounts
Total tenure – 20 years
Coverage – 500000
I am paying the premiums from Apr 2007
Total Amount paid under premiums : Rs.122075
BOnus accrued under the policy : Rs.113500
Surrender value : 76018
Paid up value : 119048
I cam to know that I will be receiving total amount of Rs.232548(Paid up plus Bonus) on maturity date(2028) if I dis-continue paying the premiums.
But with surrender value I receive Rs 76018.
I want to personally discontinue paying the premiums and take term insurance. However with the above numbers, cant choos which option to finally take – paid up or surrender. Your help will be appreciated. Thanks in advance