Dear All,
Based on the inputs I got from this wonderful forum for LIC Jeevan Anand policies, I have decided to surrender my all 9 policies.
However 2 of my Jeevan Anand policies (out of 9) are going to mature in next 6-8 years, so I am in a dilemma in surrendering these 2 policies. I have already paying it from 2006 (7 years).
Here are the detail of Jeevan Anand polices I have:
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Sr# SA Assured -> HLY Premium -> Policy term -> Left Term -> Paid Amount -> Vested Bonus -> Surrender Value
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1) 250000 -> 3952 -> 32 -> 25 -> 51376 -> 56750 -> 22410
2) 200000 -> 4511 -> 24 -> 17 -> 58643 -> 45400 -> 33111
3) 125000 -> 4879 -> 15 -> 8 -> 63427 -> 23375 -> 46208
4) 225000 -> 4017 -> 29 -> 22 -> 52221 -> 51075 -> 24916
5) 100000 -> 4504 -> 13 -> 6 -> 58552 -> 18700 -> 44557
6) 175000 -> 5210 -> 19 -> 12 -> 67730 -> 36225 -> 44460
7) 150000 -> 5079 -> 17 -> 10 -> 66027 -> 31050 -> 46885
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If you see Sr#3 and Sr#5, there polices are going to mature in 8 & 6 years respectively.
I understand that if I invest surrender amount of these 2 polices in PPF or any other debt fund (considering return of 8.5% on average),
Return will be more (even more if invest in MF), is my understanding is correct?
Question is should I surrender these 2 policies also (along with other 7 policies) or should I wait till maturity only for these 2 policies?
Is it wise decision to continue these 2 policies till maturity to enjoy full benefit??
Please share your thoughts on this.