Thinking to Surrender LIC Policies

POSTED BY Vijay Velpula ON October 5, 2012 10:54 pm COMMENTS (2)

Hello,

During May 2012, I have taken 5 LIC Policy ( 3 Jeevan Anand, 1 Jeevan Mitra and 1 Jeevan Chayya) as this combination suggested by LIC Agent.

I am investing 10,000/ monthly on these policies.

Earlier I was not knowning much about Term Insurance so invested on these policies.

Now I feel I am wasting money on these policies instead I can invest in PPF and MF.

Shall I surrender all these LIC policies?

Kindly provide me your valuable suggestions and suggest me right invesment.

Regards,

Vijay

 

 

 

 

 

2 replies on this article “Thinking to Surrender LIC Policies”

  1. Dhinesh Kumar says:

    Just started and i think u only paid 5 or 6 installment, stop paying it , but you will not get any money,but stopping early is better.Take a fresh start with Term plans,PPF/Mutual funds.

  2. Biswa Singh says:

    Yes sir go ahead and surrender them. But as the lock in period in lic is 3yrs you can not surrender them. In both the cases you will not get a single penny. So make these policy pid up. You will get the amount invested plus at maturity. If you stop paying primimum automatically it becomes paid up. But still its better to inform the branch.

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