lic policy surrender ?

POSTED BY prasoon ON February 23, 2011 2:08 pm COMMENTS (5)

dear members,

i m having lic policy- jeevan mitra , started in may 2009 and alredy paid 2 premiums.

now as i have taken adequate pure term insurance, should i simply stop paying further premium and take it as  an one time loss or pay one more premium ( total 3 ) to generate surrender value?

– dr anand

5 replies on this article “lic policy surrender ?”

  1. trupti says:

    you should not pay 3rd premium. Please go for pure simple term plan that crappy moneyback or endowment policies.


  2. JayaprakashReddy says:

    It is advisable to forget about it. Even if you pay one more premium you wont get back even that premium.

    For ex: if your premium is 20000/yr. You paid 40k till now and if you pay another yr premium then your total pay will be 60k.

    Now, If you forget it now then your loss will be 40k. But if you want to surrender after payment of another premium then your loss will be 48k.

    So, you decide which one is best?

    1. anand says:

      thanks mr reddy

  3. ashal jauhari says:

    Dear Dr. Anand, Even after paying 3rd prem. your potential loss ‘ll be very high, hence it’s advisable to not pay the 3rd prem. & let this policy lapse.



    1. anand says:

      thanks a lot ashal, for helping me out again and again .

      -dr anand

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