Surrender value of 6 LIC Policies

POSTED BY manishbhasin ON October 30, 2014 6:26 pm COMMENTS (4)

Hello

I have following polices , i want to stop all the Premium payments & surrender ,can you please help to advice the surrender amount

Jeevan Anand   Premium Rs 15254 yrly tenure 21yrs –> Premium  paid since 2007
Jeevan Saral   Premium Rs 24020 yrly tenure 35yrs –> 2 Premium paid

New Bima Gold   Premium Rs 7363 yrly  tenure 20yr–> 2 Premium paid
“The Endowment Assurance Policy”   Premium Rs  4753 yrly tenure 21 yr –> 2 Premium paid
“The Money Back Policy – 20 Years”    Premium Rs 6480 yrly tenure 20yrs–> 2 Premium paid
Jeevan Chhaya    Premium Rs 5505 yrly tenure tenure 20yrs –> 2 Premium paid

4 replies on this article “Surrender value of 6 LIC Policies”

  1. manishbhasin says:

    Thanks Ashish , tht really help to make my mind to cancel those LIC policies , 🙂

  2. ashishphadnis says:

    Insurance policies are always good for protection only, it can not be a investment tool. Immediately go to LIC and whatever surrender value you are getting, take it and come out of this. You can very well take of simple protection plan i.e. term insurance, I think almost 1 cr coverage @ Rs 8,000 per year of premium if your age is around 25 years. Then rest of the amount which you save will be almost 55,000 in a year which can be utilized for monthly investment of Rs 4500 in PPF for 15 years.
    So now you will have 1 cr of insurance that means any thing wrong happened to you, your family is assured. And the PPF after 15 year will give you almost Rs 15 lakhs.

  3. manishbhasin says:

    Hi Hemanth
    Thanks , Also

    Is it profitable to continue these policies ?

  4. Hemanth says:

    Call/mail LIC customer care, they will provide the exact amount.

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