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Thread: LIC Policies Advise needed

  1. #1
    NewBie
    Join Date
    May 2016
    Location
    Hyderabad
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    1

    Default LIC Policies Advise needed

    I have following LIC Policies and planning to withdraw them and start SIPS and a term-plan in place of it , is it worth to continue all of them or need to surrender Please advice

    1, The Endowment Assurance Policy( T14) Policy Term 21, Commencement : 14 Feb-2006 Premium 2443 ( half Yearly)

    2, Jeevan Anand( T 149) Commencement 17 -June-2009 Policy Term 72 Premium 1863 ( quarterly)

    3, Market Plus 1(T 191) Commencement 29 -June-2010 Policy Term 20
    Premium 1250 ( quarterly)

    4,New Bhima Gold (T 179) Commencement 28 -June-2010 Policy Term 12
    Premium 843 ( quarterly)

    5,New Bhima Gold (T 179) Commencement 28 -June-2010 Policy Term 12
    Premium 559 ( quarterly)

    6,New Bhima Gold (T 179) Commencement 28 -June-2010 Policy Term 12
    Premium 741 ( quarterly)



  2. #2
    Moderator Matrix's Avatar
    Join Date
    Jul 2009
    Location
    India
    Posts
    258

    Default

    I am never in the favor of surrendering the LIC policies. But that's your call. Also note - the surrender value will be very less compared to the premium you have already paid.

    - Did you check, how much you going to pay for term insurance now at your age?

  3. #3
    Moderator Matrix's Avatar
    Join Date
    Jul 2009
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    India
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    258

    Default

    You can check surrender value online on LIC website (http://www.policywala.com/how-to-che...bility-online/).

  4. #4
    NewBie
    Join Date
    Aug 2019
    Location
    Missouri
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    Default

    Policy can't be surrendered before 3 years, you will get nothing.

  5. #5
    NewBie
    Join Date
    Jul 2019
    Location
    Singapore
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    10

    Default

    Quote Originally Posted by bridgenetins View Post
    Policy can't be surrendered before 3 years, you will get nothing.
    Why ?
    I've never heard that !

  6. #6
    NewBie
    Join Date
    Jul 2019
    Location
    Singapore
    Posts
    10

    Default

    Quote Originally Posted by Matrix View Post
    You can check surrender value online on LIC website .
    Thanks !
    Do you know another website ?

  7. #7
    NewBie
    Join Date
    Aug 2019
    Location
    Missouri
    Posts
    4

    Default

    Quote Originally Posted by Nayros View Post
    Why ?
    I've never heard that !

    You con google about it, you will found so many websites who provide the insurance policy advises.
    Thanks.


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