Shall i close LIC policies

Q & A Forum › Category: Insurance › Shall i close LIC policies

roshanhari asked 8 years ago

Hi Sreekanth, I have active LIC policies started during 2003 -2005. Policies are Jeevan Surabhi and Bhima gold. SA : 1 lach on each policy. Right now i am paying Rs32000/- per year on these policies. Alternate year i get Rs 25000/- Money back from LIC. Last year i took SBI LIfe term policy. Shall i cancel these LIC policies and invest this money in Mutual fund. I am 43 years now. Please provide your valuable suggestion.

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Sreekanth Staff answered 8 years ago

Hi, May I know the Tenure of these policies?? (Term). Related articles : https://www.relakhs.com/how-to-get-rid-off-bad-life-insurance/ https://www.relakhs.com/term-insurance-plan-a-waste-of-money/ https://www.relakhs.com/traditional-life-insurance-plan/