Quries in my policies : LIC's Money back policy and Jeevan Tarang

[jimmy_moh]

Hi Guys,

hope you guys are doing fine, i have some queries in my existing policy and please suggest for my future investment plans.

i joined 2 LIC policy as soon as i got the job[ 5 year back] , that time with out even reading or listening much about the benefits i just joined , now am thinking of stopping the policies.

1. The Money back policy 20 years

yearly payment : 25820
sum assured : 400000

and will get the money back in every 5,10 and 15 yrs.

here my doubt is i am paying 25820 for 20 years and in total it will be 516400 . but why the sum assured is only 4 lac?

but still am ok with the above policy , since at least i am getting my money back at 5,10 and 15 yrs.

2: Jeevan tarang 15 years

yearly payment : 28460
sum assured : 400000

here am totally not understanding the benefits , i have no idea when i will be getting the benefits.

here also i don't understanding the assured sum.

so in 5 year for the jeevan tarang , i had invested 142300 , but when i check with LIC if i surrender i will only get 1 Lac , so is it good to go for surrender?

thanks in advance

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