LIC Jeevan Anand : SA 15,00.000 INR : Want to Cancel
Hi..
I am NRI and just recently have opened Jivan Anand Policy. I am quoting my Policy detail as below.
Plan : 149 - 16 - 16 Age : 27 Date of Commencement of Policy : 26/04/2013 Sum Assured : 15,00,000 Premium Rs. (INR) : 1,03,868.00 Mode of Payment : Yearly Next Due : 26/04/2014
Recently I had discussion with my friend and realized that this policy won't serve purpose of INVESTMENT. The benefits Jivan Anand have are death & accident which already cover under my Job health insurance.
On the other hand, as per my calculation, I am losing approx. 12,00,000 INR over the period of 16 years as per the current RBI FD rate (8.75 %) for minimum 1Year. For further review please open the attach PDF file.
I have following option in my mind to prevent further loss.....
Is still my policy is under the withdrawal period (something like "Free Look Period"), as I just got my policy number last Friday June 21, 2013 but I have paid my premium by April 25, 2013 and process takes time to get approx 2 month to assign Policy number to me???
What is the lowest amount that I can change my SA, that is currently 15,00,000 INR
Is there any LIC investment plan that I can move into and get at least 8.75 % of return for my investment??
Or any other option to opt-out from my policy ??
I appreciate, if any LIC expert can guide me on that, as my adviser don't know much about this figure and don't have enough knowledge. If you won't mind I can call you if any LIC expert can provide contact number or can send email at thakar86ATgmailDOTcom.
Please let me know if you need more detail from myside.
LIC Jeevan Anand : SA 15,00.000 INR : Want to Cancel
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