POSTED BY October 31, 2012 10:09 pm COMMENTS (6)ON
I took an LIC Policy in Aug, 2012 called Jeevan Anand for Rs.5 lacs sum assured with a premium paying term of 16 years. Till now, i have payed only one half yearly installment of Rs.17,971. The following benefits are included in the policy which i will get according to the following cases:
On Maturity if alive: 5 lacs+ Bonus (which turns out to be Rs. 43 per thousand per annum) i.e., Rs 3.44 lacs= Rs 8.44 lacs
Accident Benefit: 5 lacs + Bonus accumulated till that time
Death Benefit: If the person dies before 70 years (5 lacs+ Bonus accumulated(3.44 lacs)+Final additional bonus)
Is this it better to discontinue or continue the policy?
Can i get a term insurance for a higher amount with the same premium covering all major riders?