Dear Mr. Sree
I would appropriate if you advise me for which I have taken the Max life life perfect partner super Insurance for the premiums Rs. 57,118 and Rs. 95,856 per year for 10 Years Plan.
I need to know that it should be continued or surrender and try for any other insurance. For info that I don't have any other insurance policy . My age is 46.
In the investment part I have invested in the UTI, reliance, Birla mutual funds.
Thanks
Hadja
3 Answers
Hi,
May I know the Commencement date and the remaining Premium paying term of these policies?
Max life life perfect partner super Insurance is a Money-back plan, where Survival benefits (money-back amounts) are paid once the policy holder attains 61 years of age.
Suggested readings :
https://www.relakhs.com/traditional-life-insurance-plan/
https://www.relakhs.com/insurance-importance-life-health-accident-covers/
https://www.relakhs.com/term-insurance-plan-a-waste-of-money/
https://www.relakhs.com/best-online-term-insurance-plans-india/
HI
The commencement of the policy is from Oct 2014 and the remaining premium paying terms will be 7 ,
Hadja
Hi,
As per this plan, if a policy holder has paid first three full year premiums, then he/she can surrender these policies.
If year of surrender is between 2nd & 3rd then you can get 30% of total paid premiums as surrender value (plus any accrued bonuses).
If surrender happens between 4th & 7th policy years then 50% of total paid premiums + any bonuses can be payable.
Suggest you to buy a term insurance plan with adequate life cover and then you may surrender these plans.
https://www.relakhs.com/how-to-get-rid-off-bad-life-insurance/
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