Should I discontinue my Jeevan Tarang policy and let it lapse ?

POSTED BY tilshang ON November 13, 2013 9:10 am COMMENTS (4)

Last year one of my Lic policy matured and I decided to put the maturity amount in another policy. So I decided to take a 10 lakh, 10 year  jeevan Tarang policy with 70k as annual premium. I now think it may have made a mistake and am thinking of discontinuing it And cut my losses.

Is it the right decision. Grateful for your advise.

4 replies on this article “Should I discontinue my Jeevan Tarang policy and let it lapse ?”

  1. ashalanshu says:

    Dear tilshang, cut back your losses by dumping the policy now.

    thanks

    Ashal

  2. Depends at which point you are at ? If you have just paid 1 premium , I would suggest cut out on losses . But please mention how many premiums have you paid ?

    Manish

    1. tilshang says:

      I have paid only 1 premium till date and my LIC agent has been after me to make the payment for this year. I had nearly decided to forego this policy but had a doubt and decided to ask here..

  3. ylokesh says:

    I think you need to pay minimum 3 premiums before leaving the policy lapses. Manish has posted very good article on this.
    https://www.jagoinvestor.com/2009/10/what-to-get-rid-of-your-junk-insurance.html

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