Surrendering Jeevan Anand Policy

POSTED BY Srinidhi R ON August 29, 2011 5:59 pm COMMENTS (2)

Hi,

I am planning to surrender the Jeevan Anand policy (SA:15 lac, term:25yrs)

I’ve already paid 2 annual premiums of 58358/-

As the surrender value after third premium will be less than my third premium, I’ve decided not to pay premiums at all.

I wanted to know what is the procedure to close this policy? Can I just not pay the premiums at all till the policy is cancelled or do I have to close it?

 

Regards,

Srinidhi

2 replies on this article “Surrendering Jeevan Anand Policy”

  1. Srinidhi R says:

    ok Manish. Thanks a lot..

  2. Srinidhi

    Yes , you can just choose not to pay the permium and it will lapse . but I would recommend formally write to LIC that you want to close it .

    Manish

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