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POSTED BY ON September 11, 2012 6:26 pm COMMENTS (4)
Hi, Thanks for the good work you are doing. I have Bajaj Allianz Investgain Policy (Annual Premium 5676/- for 25 Years) since 2005. Premium is due on 15th Sep and Surrender value is 11580/-.
Also, I have a Tata AIA Life Life plus plan (Annual Premium 5213/- for 20 Years) since 2007. Premium is due 17th Sep.
Should I surrender both the policies and buy a Term Plan instead ? Thanks for your valuable feedback.
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Got it. Thanks for the wonderful article.
These two were offered as “Term Plan” and I will get the same amount which will be sum of the Total Premium paid and the Cover is only 125000 (for Bajaj Allianz + Riders) and 300000 (for Tata AIA). Where as Term Plan will give much more Cover with very less premium. Should I go for Return of Premium option? And if yes, can u suggest any good plan? Thanks for your valuable feedback.
Dont complicate at all .. Dont go for return of premium plan . http://jagoinvestor.dev.diginnovators.site/2009/04/return-of-premium-term-insurance-is-it.html
Just take a normal term plan which does not return anything . The premium will be cheapest !
You anyways should buy a term plan , that has little relation with surrender of your policies.
Regarding both of your policies, I think you should look at their future expenses and charges in the brochure documents and find out how much it will be for future. If its too complicated for you to understand and manage, better get rid of it and make a new start.
Manish