POSTED BY joshima ON November 3, 2012 1:43 pm COMMENTS (11)

Hello ppl,


I am 29yrs old and had joined jeevan anand policy for sum assured 30 lakhs for 18 yrs. I had been informed by the agent that I would receive 70 lakhs by the end of 18 years. But I have just figured out I would only be receiving 54,27,000. I have paid up two quarterly premium summing to 93,500 rupees. I would like to quit from this policy as  I was intending the policy as an investment ( I know now that Life insurance is not an investment). What would be my option? Can I quit now? Will I get back my premium paid? Or should I continue with this policy?

11 replies on this article “LIC JEEVAN ANAND”

  1. Hi ,

    I have 5 Jeevan Anand policies taken in 2007 with term of 27 to 31 Years with total sum assured of 5,00,000/- for yearly premium of 17,121/-. So I have paid total of 1,19,847.00 in 7 Years. I check with LIC I will get total Surrender value = 67,583.10 /- i.e. I will get only 65% paid amount if I surrender amount right now.
    Correct me If I am wrong , I require your help on this whether to surrender the policy or any alternative is available

    1. These kind of policies leave you with a big loss if you are going to stop them midway . But even continuing them is going to give you a loss only. I would suggest if you dont need money right away , then you can make it PAID UP

  2. Dear Joshima, what’s the update from your side as on date?



  3. Sanjay says:

    1. I feel ICICI PruLife Online is better as ICICI is more reliable name. But recently ICICI Pru has increased its Term COver premium.

    2. FOr Health Insu – I have Apollo Family floater. I have also taken a Super Top up from United Insurance. This combo fives my family a cover of 20L with just Rs 35k premium (Age >45 yrs)

  4. Rosh says:

    Dear Joshma,

    Personally i dont know any finacial planners in india as i’ve never approached them in my life to discuss/plan about my finance/goals coz. i’m confident in managing my own finance, whatever the knowledge i earned from reading books, articles of ET, outlook money etc.. & personnel finance blogs specially jagoinvestor. u can contact Mr. Manish Chauhan, the owner of, who has paid services for personal finance planning.



  5. joshima says:

    Dear Roshan,

    Thank you Roshan. Would you be able to reccomend some financial planners in India with a good proven track record? someone like Dr K.K Goel of Ndtv social!

    Aegon Religare seems good, though I am a lil doubtful on Aviva. I need to take time on MF’s.


  6. Rosh says:

    Dear Joshima,

    1. Term insurance – Aegon Religare or Avia, but be careful to provide all ur details honestly.
    2. Also buy a medical insurance(family floater)
    3. MF – ICICI Pru. discovery growth, Quantum long term eq., Franklin india blue chip.



  7. joshima says:

    Dear Rosh,

    Again, so kind of you….will look seriously into equity MF and PPF!!! any particular suggestions on the term insurance/ equity MF…!! so could check on those..!!


  8. Rosh says:

    Dear Joshma,

    first of all i’d like tell u that, insurance + investment is a bad combination. one should not mix up these. keep insurance separate from investment. I strongly suggest u to read a book writeen by Mr. Manish “Jagoinvestor – change ur relationship with money” & understand the concept of insurance & investment.

    ur goal is to achieve 70L target for ur daughters education. currently ur a/premium seems to be 1.87L & insurance covered is only 30L??? For 29 yr old non smoking female pure online term insurance for a of 1 Cr will cost u around 6,500 – 7,000 per annum, balance amount u can invest in PPF & long term equity MF.

    Term insurance + eq. MF + PPF is a best combination.



  9. joshima says:

    Dear Rosh,

    Thank you for your quickie. I am going through the link and it seems to have ppl for and against the policy. I have nothing against the scheme. My actual issue is not being able to attain my target. 70 lakhs was my target for my daughters education and marriage. With this policy i had an insurance cover plus attainment of my goal. Now 70lakhs have dropped drastically to 54 lakhs which is a bit hard for me to digest. I am still trying to figure out in the shared link where have someone spoke clearly of quitting the policy.


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