Hi All,
I have a Jeevean Saral policy(T.No. 165) in my name with Term of 35 years with sum assured of 1500000 started in 2010.I pay monthly ECS of 6125/- rupees (73500/- yearly ). I had thought it as a long term plan to be used for my retirement.But after reading various negative feedback after this policy, is it wise to keep it for long term?
Till now I have paid approx 3.2L in premium.If I surrender it after 5 years will I be loosing my hard earned 1st year premium with 0 or very less bonus incurred?
As suggested by the agent, I will get loyalty addition +bonus+ premium paid amount after 10 years.
So, if at all I want to surrender the policy , is it OK to wait for 10 years?Should I continue it for the entire tenure?what if I need some urgent fund in between?Please suggest guys!
Any help would be much appreciated.
PS: My AIM to take this policy was for retirement planning + 80C benefits or lump sum money after 15 years at least to meet my personal goal.