Hi Sir...After reading ur blog i have got so many good information and must know for people who haven't invested much...i am coming from mid class family and it really helps and i have started telling about ur blog to my friends..
Regarding my question
I recently opened LIC Jeevan Anand Policy from Sep 2017 which is just one month old...i didnt know about ur blog before.
But after reading it and checking with my friends i have realised that LIC is not correct for me as the cover is very low and i was focusing on returns rather than actual cover.
So i have planned to close it now. But i have unfortunately paid half the premium about 22k, my LIC policy is 8Lakhs for 28yrs..
Now is there any chance i will get my money back or should i go ahead and close it and forget about that 22k i have invested and start concentrate on TERM LIFE INSURANCE(which i am actually planning to take).
I get angry on my self witout actually knowing the benefit and invested 22k on the 1st month..so ur response will actually help me out big time.
Thanks,
Ram
3 Answers
Dear Ram,
Thank you for following my blog posts!
It is not the LIC (company) as such, it is the product that may not be suitable to you.
As surrendering the policy is allowed only after paying minimum 3 policy year premiums. So, you may have to forgo the payment of Rs 22k and book loses, and let the policy lapse by not paying the future premiums.
Suggest you to apply for Term insurance at the earliest before the next premium due date.
Suggested readings :
https://www.relakhs.com/how-to-get-rid-off-bad-life-insurance/
https://www.relakhs.com/insurance-importance-life-health-accident-covers/
https://www.relakhs.com/traditional-life-insurance-plan/
https://www.relakhs.com/term-insurance-plan-a-waste-of-money/
https://www.relakhs.com/best-online-term-insurance-plans-india/
Thanks allot for quick response...
Can u suggest some good investment plan for my future benfits i am 28 yrs old 44k salaried per month..
Dear Ram,
Below articles can be useful to plan your investments ;
https://www.relakhs.com/investment-planning-investment-plan/
https://www.relakhs.com/retirement-planning-calculator-3-easy-steps/
https://www.relakhs.com/calculate-kids-education-goal-amount/
https://www.relakhs.com/list-of-best-investment-options-schemes-in-india/
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