Hi
I have taken 2 LIC policies at the age of 24 years in Apr-May 2007.
1. LIC - Jeevan Shree - I ( With Guaranteed Additions for 5 years and With Profits Thereafter)
Sum Assured - 5 Lacs
Date of last payment: 15-Oct-2022
Date of Maturity: 15-Apr-2032
Half -Yearly Premium 12713 for 25 Years
2.LIC - Jeevan Anand( with Profits) With Accident Benefit)
Sum Assured - 2 Lacs
Date of last payment: 15-Oct-2026
Half -Yearly Premium 5575 for 20 Years
Please give your feedback on these 2 policies.
Should I discontinue these 2 policies(5 Half-yearly premiums paid so far)
and go for Term Insurance and invest rest of the money elsewhere
or
continue these 2 policies and take a new Term Insurance policy.
As I am only 26 years right now (birthday is in Oct), my Term Insurance premium will also be less.
Which Term Insurance policy to go for, as there are so many?
Thanks & Regards,
zoom
I have taken 2 LIC policies at the age of 24 years in Apr-May 2007.
1. LIC - Jeevan Shree - I ( With Guaranteed Additions for 5 years and With Profits Thereafter)
Sum Assured - 5 Lacs
Date of last payment: 15-Oct-2022
Date of Maturity: 15-Apr-2032
Half -Yearly Premium 12713 for 25 Years
2.LIC - Jeevan Anand( with Profits) With Accident Benefit)
Sum Assured - 2 Lacs
Date of last payment: 15-Oct-2026
Half -Yearly Premium 5575 for 20 Years
Please give your feedback on these 2 policies.
Should I discontinue these 2 policies(5 Half-yearly premiums paid so far)
and go for Term Insurance and invest rest of the money elsewhere
or
continue these 2 policies and take a new Term Insurance policy.
As I am only 26 years right now (birthday is in Oct), my Term Insurance premium will also be less.
Which Term Insurance policy to go for, as there are so many?
Thanks & Regards,
zoom
