surrending jeevan saral

POSTED BY Varun Dua ON April 10, 2013 5:40 pm COMMENTS (6)

Dear Sir,

           I have purchase jeevan saral policy in jan 2008 i have paid premium for 5 yrs

(24000/- yearly).Now i m thinking to stop paying premium for the same and i also don’t want the surrender money right now i can still wait for 5 more years , So please guide me if i take or surrender this policy after 5 yrs i.e total 10 yrs in which i have paid premium for 5 yrs and wait for 5 yrs so what amount i will be getting will there be any deduction ?  will i”ll be getting the premium that i have paid for 5yrs atleast or  will there be any deduction …please guide….thanx!

6 replies on this article “surrending jeevan saral”

  1. Varun Dua says:

    thanx Ashal..I will think over it …

  2. Dear Varun, w’d you like to amputate a finget today or an Arm tomorrow? if you are continuing with a wrong choice for the fear of immediate loss, what ‘ll you do for the potential high loss by not making corrective action. By keeping policy with out prem. for next 5Y, you are not going to recover what you are thinking but yes, as the money ‘ll not be with you, are missing the possible recovery by investing elsewhere.

    Think over it.

    Thanks

    Ashal

  3. Varun Dua says:

    Dear Ashal , thanx for ur reply….. actually my father purchased it for me and also we were misguided by the agent …FYI i m having three jeevan saral policy…firstly 7yrs old (paying 12000 yearly), secondly 5 yrs (paying 24000 yearly) thirdly 4 yrs old (36000 yearly).. yes u can say we didn’t had a good track on the policies as we trusted the agent and now at the end of the day we realised that we have come too far….so i was thinking to quit any of two but i was confused regarding the surrender amount i ‘ll be getting ?…so pls guide if possible.

  4. Dear Varun, why are you stopping prem. now? Why did you opt this policy at the first place?

    Thanks

    Ashal

  5. Varun Dua says:

    Thank you for your response .

  6. If you dont use any money from this until the policy matures, the simplest solution would be stop paying premiums and make the policy paid-up. The paid-up value will be higher than surrender value but will be paid only on maturity. This is of course if you want to get out of this and understand why.

    For whatever reason you need this money before the maturity of the policy, surrender now and invest the surrender amt in a safe instrument and take it after 5 yrs.

    You can get an idea of paid-up and surrender values here

    http://freefincal.wordpress.com/insurance-policy-surrender-value-paid-up-value-calculator/

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