LIC JEEVAN TARANG : what would be the sum assured if I change it paid up after three years?

[rampeter]

Hi


I am 36 years old and I have taken up LIC JEEVAN TARANG. My policy premium paying term is 6years and maturity is at 15 years. Now I want to make it paid up after paying first 3 years. I need to know what would be the sum assured if I change it paid up after three years.

[Matrix]

If you make stop the premium payments after three years then the policy acquires a Paid Up Value for a Reduced Sum Assured. You Sum assured will also reduce in proportion to premiums Paid by you. As you said if you stop the policy in 3rd year, (assuming your Sum Insured is 10 lacs), your sum assured will reduce from 10 lacs to 2 lacs (20%), as you have paid the premium only for 20% of the tenure (15 years).