Quote Originally Posted by nishaneelesh View Post
I was reading more about paidup value in LIC site and understand as my Jeevan Tarang policy is for 20 years with sum assured as 5 lakhs so it comes per year as 25000 (5 lakhs / 20) and if I pay the premium atleast for 3 years (25536*3 = 76608) and stop then it will turn as paidup policy and sum assured should be as 75000 (25000 * 3).

Can you please confirm the sum assured which I calculated is correct or not?
And I will eligible for reduced sum assured and bonus, right?
And when this amount will be paid to me? As we get only bonus amount and don't get the sum assured amount after maturity. Only 5.5% given every year later so what will happen if it becomes paidup after three years?

Please suggest.

If you stop the policy in 3rd year, (assuming your Sum Insured is 5 lacs), your sum assured will reduce from 5 lacs to 75 thousands (15%), as you have paid the premium only for 15% of the tenure (20 years).

Jeevan Tarang Paid-up Policy shall not be entitled to the future bonuses. The existing vested reversionary bonuses, if any, shall remain attached to a paid-up policy. Also no survival benefit shall be payable under paid up policies.