I am 27 years Old, Unmarried and bought a LIC Jeevan Anand Policy Last year. Here are more details
SA:2 Lakh Rs
Premium:9865Rs
Term: 22 Years
Number of Premiums paid: 1
The 2nd Premium is due on this month i.e Sep 22, 2013.
After going through many of your articles, I am planning to stop paying premiums for LIC Jeevan Anand Policy and buy a online HDFC Term Insurance Plan for the same premium for which I will get S.A around 1Crore.
I don’t have any other Insurance cover other than Jeevan Anand. Please let me know if I am taking the Right Step and also if my policy will be eligible for PAID-UP Insurance Cover if I stop paying premiums.