Surrender of Jeevan Saral purchased in July 2010 having premium 12000 per annum

POSTED BY Pavan Kumar ON April 25, 2014 12:12 pm COMMENTS (3)

Dear Sir

I have taken Jeevan Saral Policy from Bharatpur, Rajasthan in July 2010 with half yearly payment of 6065 in Jan and July (12000+ 120 ar) and Now I am not finding any benefit in continuing it .  I will be very grateful to you if you please suggest me to whether continue the policy or not as I have already a term plan of Aviva of worth 50 lakh and PPF. I am a Punjab Govt employee and have Rs 5 Lakh insurance by Group Insurance.

3 replies on this article “Surrender of Jeevan Saral purchased in July 2010 having premium 12000 per annum”

  1. Viren Phansalkar says:

    First, contact your agent and tell him that you wish to surrender your policy.
    He will give a surrender form, wherein you would have to enter few policy details and sign on it with revenue stamp. Give your original policy document with this form. Recently, LIC needs your handwritten letter stating that you need to surrender and the reason for the same. Submit NEFT form as well, this would redeem your money directly in account instead of getting a cheque.

  2. Pavan Kumar says:

    Dear Sir
    Would you please inform the procedure of surrendering of the policy

  3. ashalanshu says:

    Dear Pavan, please surrender the policy. Purchase more term cover as per your need.

    Invest in Other instruments also.

    Thanks

    Ashal

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