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POSTED BY ON November 6, 2014 11:22 am COMMENTS (2)
I have a policy max life insurance life partner plus endowment age 75. I completed my all premium @50000 x 7 years. Last premium paid 2012. But after completion of 8 years the same policy surrender value is very low. The maturity date of the policy is 2081. Its very long.
So kindly advice me what can I do to this policy.
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In simple words, you were duped into buying the policy. The whole mechanism of such policies is to have a surrender value so low that you will not think of surrendering them at all. However since you have paid up your premiums, you can either choose to now wait for the surrender value to come up closer to your invested amount and then exit or exit immediately and invest the amount in better avenues. For life Insurance only look at buying a pure Term plan. Do not fall for any kind of money back policies.
wow.. 2081??? How did you even end up with that policy?
Cut your losses and surrender it now!! It is not work spending a single penny more on that wretched policy.