POSTED BY March 4, 2014 3:03 pm COMMENTS (3)ON
I have an endowment policy (Jeevan Mitra triple cover , sum assured Rs. 400000) taken in feb 2012. I have paid five half yearly premium of Rs. 10960. policy term is 21 years.
Now I want to take a term plan of Rs. 25 lacs. Should I surrender the endowment policy or continue with the same as it delivers very low returns.
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3 replies on this article “Should I surrender the Jeevan Mitra Triple Cover Policy ?”
Dear Lkgoyal, please opt what is suitable to you as per your own calculation. if you feel continuing this policy is good, please continue.
Dear LKgoyal, why do you want to continue with this low return (actually loss making) policy?
Thanks for reply.I am considering continuation of this policy because at this point of time, its surrender value is nil due to non completion of 3 years.
So , all the money paid till now has sunk.
As per my calculation in present scenario, if I invested same money every year in PPF+term plan since now, then also, return comes equal to maturity value of this policy.(pls. correct me if my estimation is going to be incorrect)