A year ago, in 2011, I took a Jeevan Shri Policy to save tax. However after some analysis It seems to be a wrong decision as returns and life cover are not adequate.
Details are as follows:
Plan & Term : 162-10-6
Annual Premium : 84574
Premium paying years: 2011 – 2016 [6 premiums total, 1 premium of 2011 paid]
Maturity : 2021
Returns from LIC in 2021 : 725000.
Please advice me if I should stop paying premiums or continue.
Thanks.