LIC Endowment policy - whether can I withdraw the deposited money?

**NewsDesk** · 26-07-2011

My father took a LIC Endowment policy in year 2000. And he told me that he had paid 3-4 premium of Rs. 130,000/- and the term of the policy was 15 years. After paying the 3-4 premium of the above policy, due to some problem, he was unable to continue the above policy. I wanted to know, whether I can withdraw the deposited money?

Received by email - rohit.marathi

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**NewsDesk** · 26-07-2011

ENDOWMENT ASSURANCE POLICY WITH PROFITS, (WITH ACCIDENT BENIFIT)

Policy is started in - 10/10/2000

Table & Term- 14-15 PPT.15

Sum assured- Rs.130000

Due date & mode of payment- 10TH HLY

Installment premium payable- Rs. 4766

Date of maturity- 10/10/2015
Date of last payment- 10/04/2015

Father's age- 44

Payments to be made and events on happenings of which they are to made - ON THE STIPULATED/ DATE OF MATURITY IF THE LIFE ASSURED IS ALIVE OR AT HIS DEATH IF EARLIER.

Period during which premium payable- APR OCT EVERY YEAR

Dates when premium payable - 11

**koolz** · 26-07-2011

As per the information provided - (Period during which premium payable- APR OCT EVERY YEAR)
So the premium payment term is every six month .... your father had paid premium for 3-4 times means 2 years.

Now your question is will you get some money back?

As per LIC website -

Premium Stoppage :
If payment of premiums ceases after at least THREE years' premiums have been paid , a free paid-up policy for a reduced sum assured will be automatically secured provided the reduced sum assured, exclusive of any attached bonus, is not less than Rs. 250/-. The reduced sum assured will become payable on the event as stipulated in the policy.

In your case the premium is not paid for three years so you will not get anything.
But you can reinstate your lapsed policy, after paying the reinstatement changes to the branch, from where you had bought the policy.