Quote Originally Posted by thakar86 View Post

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???
The Free Look Period is 15 days after you receive the policy bond. In this period you can return the policy to insurance company.

What is the lowest amount that I can change my SA, that is currently 15,00,000 INR
Sum assured under a policy can be reduced to a SUM not less than minimum under the PLAN from the next due date of the renewal premium. Only once in Policy term, you can Reduce Sum Assured and Term so that premium will be reduced. The proportionate surrender value of the dropped sum assured together with cash value of vested bonus relating to dropped sum assured is payable in case of claim. For more information/process contact your LIC branch.

Is there any LIC investment plan that I can move into and get at least 8.75 % of return for my investment??
LIC Plans are insurance cum investment plans, so return is low. Only ULIPs can give you such kind of return but no guarantee as in FD.

Or any other option to opt-out from my policy ??
Opt-out means what?