POSTED BY February 10, 2013 2:02 pm COMMENTS (26)ON
I bought LIC Jeevan Saral policy on 7-Jan-2011 and my DOB is 23-Nov-1987 (25 Years).
The term is of 35 years and SA is 7.5Lacs. I pay a annually premium of Rs.36030.
After reading many articles about term vs. endowment policy, I am also planning to surrender this policy and buy a term policy ASAP.
Please let me know, whether my decision is correct or should I continue with Jeevan Saral and also buy one more term policy ?
If I surrender my policy what will be the Surrender Value that I will receive. It would be helpful if any one can give the approx figure with calculations.
According to my knowledeg & calculations I will get 30% of my 2 year premiums after paying 3 years premium, which comes around 21.6K. Is this correct ?