After ready Jagoninvestor and other financial blogs I realized that I have done mistake by taking so many LIC policies. Now I would like to correct my mistakes with the help of Jagoinvestor Forum members suggestions. I have already taken term sufficient insurance.
I have following LIC policies
- LIC Samridhu Plus: Started in April 2011. Premium amount is Rs. 2000 per month. Last premium date is March 2016.
- LIC Jeevan Saral: Started in Arp 2011. Premium amount is Rs. 1000 per month. Last premium date is March 2046.
- LIC Jeevan Saral: Started in Feb 2009. Premium amount is Rs. 1000 per month. Last premium date is March 2044.
- LIC Market Plus I: Started in Aug 2010. Premium amount is Rs. 1000 per month. Last premium date is Jul 2030.
- LIC Wealth Plus: Started in Mar 2010. Single Premium of Rs, 40,000. Maturity date Mar 2018.
- LIC Jeevan Aastha: Started in Jan 2009. Single Premium of Rs. 24,810. Maturity date Jan 2019.
- Couple of money back policies.
Please guide/suggest me
- Should I surrender LIC Jeevan Saral?
- Should I surrender LIC Samridhi Plus? Is this amount taxable?
- Should I surrender LIC Market Plus I? Is this amount taxable?
- Should I surrender single premium policies also?
Thanks in advance.