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POSTED BY ON August 9, 2012 9:11 pm ONE COMMENT
I had Paid 3 years premium for Jeeva saral policy with premium of Rs. 6065 half yearly.
(5940+125) aggragating to Rs. 36390.
It was for 18 years term with Rs. 250000 insurance and Accidental Rs. 250000.
What value i get if I surrender this Policy Now( after 43 years premium payment)?
What if I stop Paying now and surrender after 5 years?
What if I Pay till 5 years and surrender after 5 years?
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Dear Prakash, you ‘ll get a gtd. surrender value of 30% of the 2Y prem. because 1st year’s prem. ‘ll be ignored by LIC for surrender value calculation.
If you do want to cut losses, now is the time to surrender this policy, purchase a good term cover & start investing the saved prem. amount to elsewhere like MFs, PPF or other pure investment.
Thanks
Ashal