Surrender jeevan saral policy

POSTED BY ronak shah ON May 25, 2012 1:48 pm COMMENTS (3)

After reading your blogs, I came to know that I should have Health Plan and Term Plan first. And then Invest money in MF (through SIP) or PPF. But now I want to correct all my past mistakes. so I want to surrender my policy with minimum loss.

I have read answers in
http://localhost/jagoforum2/want-to-surrender-lic-jeevan-saral-policy/3404/ link.

In that you told that after 5 year One can get back their money but I can\’t get it that all money or they cut some penalty.

I have taken Jeevan saral policy in Aug 2009 and pay 3000 quarterly so now when should I surrender my policy to get money without penalty.

3 replies on this article “Surrender jeevan saral policy”

  1. Dear ronak, w’d you like to amputate your finger today or an arm tomorrow?

    Please answer this question & you ‘ll get the answer of your own question.



    1. ronak shah says:

      Thank you sir for your kind reply.

      After reading blogs on “Jago Investor”, I knew that I have made mistake, but now I just try to minimize the effect. If I will wait for 5 years and at least LIC gives my money back without any interest then I can wait. So I just want to ask that should I get 100% of my premium after 5 years or they cut some penalty.

      1. Dear Ronak, sorry to say but even after those 5 prem., you can’t get full prem. back. I.e. out of 5 paid prem. 1st prem. ‘ll be ignored for the calculation of surrender value & only remaining 4 prem. ‘ll be considered. Here again you ‘ll be paid back a discounted value & not the full 4 prem.

        Please visit any nearest LIC office & check there for the surrender value of your policy today, after 1-2-3Y & then only you ‘ll be able to understand this surrender thing that sooner you surrender, better you gain by investing that surrender amount as well as future prem. elsewhere in pure investment products.



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