I took LIC Jeevan Saral policy 4 years back with a monthly premium of 5100/-. Now I want to reduce this premium to 2500 /-. Can you suggest disadvantages, advantages of this and also impact on bonus?
Abhu-You can reduce the premium by submitting an application to branch. The effect will be either they may reduce the sum assured available (in this plan even maturity sum assured too) or they may increase the term of policy. The effect will be further low return.
Before that, think why you are investing in this plan. this plan generate around 5% to 6% return. If you are OK with this much return then continue.