Hi
I have taken a Jeevan Anand Policy and paid the premium for 6 years. yearly premium is Rs28,448/-. The accured bonus is 134400/- and the surrender value I get is Rs 101081/-. The sum assured is 6 Lakhs. Can you a) Let me know if it is good to surrender and take a Term Insurance for 50Lakhs or so. b) What will be the implication of Tax on the premium?. I think apart from the first 2 years I did not need the premium to cover for 80 C.