Hi Manish
I’m holding 11 endowment policies (7 premiums paid) & 1 Jeevan Saral (6 premiums paid). Details are as follows :
Plan-Term-D.O.C-Inst. Prem(Rs)-Sum Assured. :
14 – 20 -1 5/01/2008 – 2,957- 60,000
14 – 21 -1 5/01/2008 – 2,808- 60,000
14 – 22 -1 5/01/2008 – 2,451- 55,000
14 – 23 -1 5/01/2008 – 2,337- 55,000
14 – 24 -1 5/01/2008 – 2,082- 50,000
14 – 25 -1 5/01/2008 – 1,995- 50,000
14 – 26 -1 5/01/2008 – 1,915- 50,000
14 – 27 -1 5/01/2008 – 1,842- 50,000
14 – 28 -1 5/01/2008 – 1,777- 50,000
14 – 29 -1 5/01/2008 – 1,996- 60,000
14 – 30 -1 5/01/2008 – 1,926- 60,000
165 – 25 -17/01/2009 – 18,015- 375,000
Till date I have paid INR 1.68 lacs for these endowment policies and the surrender value is INR 1.02 lacs.
And surrender value for Jeevan Saral is INR 27 thousand against INR 1.08 (premium paid)
After deciding to surrender these policies, I happened to consult a senior LIC agent (other than the one who sold me these policies), who informed me that if I surrender these endowment policies after paying 10 annual premiums, I will atleast get back the total of all premiums paid till that time. Is it correct ? I have a doubt since , I could not find anything on the web related to this. Could you confirm please.
If it is true, and if I make my policies paid up right now, and surrender them after 10 years from D.O.C , will I get back the total of all premiums paid till date ?
Thanks.