Need advice on LIC Policies

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harithabhaskar asked 8 years ago

Hi Sreekanth, We have two LIC policies i.e., Jeevan Anand and Jeevan Tarang total premium value is 500000 for 20 yrs Per annum we are contributing 50k for both the policies We have stopped Jeevan Tarang as per the advice of investment person by validating pros and cons of both the policies. Can you kindly suggest the detailed pros and cons of both the policies

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Sreekanth Staff answered 8 years ago

Hi, Kindly note that Rs 5 lakh is sum assured and not premium value. On whose name these life insurance policies have been taken? May I know the person's age & profile. Does he/she has any dependents and/or have any financial liabilities? Related articles : https://www.relakhs.com/traditional-life-insurance-plan/ https://www.relakhs.com/term-insurance-plan-a-waste-of-money/ https://www.relakhs.com/insurance-importance-life-health-accident-covers/