Dear Members
I am having the following LIC policies
|
Policy |
DOC |
SA |
Premi |
Term |
|
New Money Back policy |
15.03.2005 |
2,00,000 |
5194/- (Half year) |
25 yrs |
|
Jeevan Anand |
12.02.2010 |
5,00,000 |
13107/- (half year) |
21 yrs |
|
New Bima gold (Money back) |
17.07.2010 |
5,00,000 |
17232 (yearly) |
20Yrs |
I am having two dependents and my monthly home take salary is 30,000. After reading several Insurance articles, I decided to surrender/paid up/ just stop paying premium for the above policies. But my friend told me that if i invest the money, which I will get every five years from Money back policies, then one can create long term wealth. So.. Now I am in dilemma… I request the members to give their opinions. Shall I continue with those policies?