What should I do with my 3 LIC Policies ? please help

POSTED BY Ranger ON April 18, 2014 11:39 am COMMENTS (3)

Hello All,

I’ve 3 LIC policies & would like your opinion on how to proceed further? There are no pending premiums for these policies.

1> Jeevan Anand

Commencement Date: 27/08/2008

Sum Assured: 2,00,000

Vested Bonus: 38,400

Premium: 7,772 payable half yearly

2> Jeevan Anand

Commencement Date: 28/10/2010

Sum Assured: 6,25,000

Vested Bonus: 81,250

Premium: 3,958 payable monthly

3> New Money Back Policy

Commencement Date: 10/04/2011

Sum Assured: 6,05,000

Vested Bonus: 53,240

Premium: 31,525 payable yearly

I’ve realized the returns these policies offer is pretty dismal. I’d like to know what would be the best option for me right now. Should I make these policies as ‘paid-up’ or should I surrender these policies?

Appreciate your feedback!

3 replies on this article “What should I do with my 3 LIC Policies ? please help”

  1. ashalanshu says:

    Dear Ranger, why did you purchase these policies? What are your other assets and investments? What are your other life insurance policies? What are your mly income and expenses, loan liabilities, age, no. of dependents?



  2. Ranger says:

    Thank you Raja.

    Can anybody tell me how much money I’d getback in case of surrendering the policy vs. making the policy paid-up & getting the money at maturity?

  3. Raja says:

    Surrendering would be the wisest decision. Buy a Term plan and start investing in other pure investment avenues like mutual funds, PPF, Equities etc.

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