Surrendering LIC amulya jeevan policy

POSTED BY Sambaran Mitra ON April 4, 2011 8:27 pm COMMENTS (4)

I have N amulya-jeevan insurance-policies(LIC’s term insurance) running as of today. I want to surrender one of these N policies. Are there any consequences I should be aware of, if I choose to surrender one policy keeping the rest intact?

4 replies on this article “Surrendering LIC amulya jeevan policy”

  1. ashal jauhari says:
    April 5, 2011 at 3:23 pm

    Dear Sambaran, Discontinuing a policy ‘ll not have any effect on your other policies with the same insurer or any other insurer.

    Thanks

    Ashal

    Reply
  2. Sambaran Mitra says:
    April 5, 2011 at 12:50 pm

    Asif, Bharat, Thanks for your replies.

    @Bharat,
    I should have worded my question properly. I want to discontinue 1 policy by stopping further premium-payments. Can that give rise to any complication for my other policies which I am continuing?

    Reply
  3. bharat shah says:
    April 5, 2011 at 12:42 pm

    is it possible/feasible to surrender the term policy unless you paid single premium? i think only single premium term policy could br surrender. for regular premium term policy, you need to discontinue by not paying further premium.

    Reply
  4. Asif says:
    April 5, 2011 at 4:14 am

    Surrender the oldest one if the premium difference is not much, so that you could be covered for longer period.

    Reply

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