LIC New Jeevan Anand - Q & A Forum

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Vishal2050 asked 8 years ago

Dear Sir, I have taken LIC New Jeevan Anand (815) Policy 4 years back and have paid premium for 4 years. Sum Assured Rs 5 Lakhs and premium amount is Rs 25,000+ for 21 Years Should I continue this or get it convert the Sum assured of lesser value so that 4 premiums which I paid could be allocated for the rest of the period and Policy will not lapse

2 Answers

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Sreekanth Staff answered 8 years ago

Hi, May I know if you have adequate life cover (preferably through a Term insurance plan)??

Vishal2050 replied 8 years ago

Hi Sir,

Thanks for the prompt response

I do have sufficient Term Plan coverage from LIC

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Sreekanth Staff answered 8 years ago

Hi, If you have adequate life cover, suggest you to surrender this plan (or) make it a PAID-UP one. Given a choice, I would surrender these kind of policies and invest in better investment alternatives for my long-term goals. Kindly read : https://www.relakhs.com/how-to-get-rid-off-bad-life-insurance/ https://www.relakhs.com/traditional-life-insurance-plan/ https://www.relakhs.com/list-of-best-investment-options-schemes-in-india/