10 replies on this article “What is “Reduced Paid Up” LIC policy”

1. Sangita Roy says:

   January 11, 2021 at 11:00 pm

   My lic policy is showing reduced paid up but i am already surrendered it.why ?

   Reply
   1. Jagoinvestor says:

      January 12, 2021 at 4:22 pm

      You mean you got the money?

      Reply
2. Devanshu says:

   June 25, 2017 at 9:25 am

   Is it possible to start the policy again if I pay the remaining preminum amount.

   Reply
3. Praveen says:

   February 17, 2016 at 11:04 am

   Hi, now my Policy status is showing “REDUCED PAID UP” and past 3 yrs I am t paying the premium. Is it possible to pay the premium from now on words.

   Reply
   1. Manish Chauhan says:

      February 20, 2016 at 7:10 pm

      Hi Praveen

      This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that

      Manish

      Reply
4. ashalanshu says:

   March 13, 2014 at 10:22 am

   Dear Nikunj, please contact your LIC branch to get the exact details about paid up value. this paid up value with out any more addition ‘ll be given to you at the maturity of your policy. The sum assured is also equal to your paid up value now.

   Thanks

   Ashal

   Reply
5. Nikunj says:

   March 11, 2014 at 3:34 pm

   Hi, I have the same doubt as Vineet

   Even i had(or shall i write have) a endowment policy from LIC, and i didn’t pay the premium last year.
   Now when i see the policy status, it shows as “REDUCED PAID UP”
   However, the sum assured is the same as before.

   My doubts

   1) How do i know what is my currect sum assured?
   2) Now that i see the policy is converted to REDUCED PAID UP, which actually i wanted to do. Do i have to intimate LIC that i ll not be paying the premiums going forward
   3) What happens after maturity? What shall be my maturity amount as i will not be paying any premiums going forward

   Reply
6. Vineet says:

   December 27, 2011 at 12:34 pm

   Thanks Justgrowmoney and Ashal. I know concept of Paid up policy. My question is that is there any difference between paid-up and reduced paid up? Also I understand that bonuses would not be applicable. But what about insurance cover? Does sum assured gets changed (From what I see on LIC site, sum assured is not reduced yet, but will it remain same till maturity of policy?)

   Reply
7. ashal jauhari says:

   December 26, 2011 at 11:55 pm

   Dear Vineet, in simple words, your policy is made paid up due to non payment of prem. & fresh bonus addition has been stopped. A value has been assigned to your policy, which ‘ll be available either at the time of maturity or at the time of your death before maturity.

   Thanks

   Ashal

   Reply
8. justgrowmymoney says:

   December 26, 2011 at 3:00 pm

   Yes, The policy is now a Paid up policy with a lower sum Assured. You are eligible for all bonuses declared until 2007 but not beyond.

   Reply

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