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