Insurance of Self
SA – 500,000 / DOC -23.03.2009 / DOM – 23.03.2084
DLP – 23.03.2038 / T&T – 149 75 30
Yearly Premium = 16,000 / Paid till Jun-16 = 1,12,000
SA of 5L looks nothing to me now. Should I stop this policy or continue?. If I stop this what are pros & cons? When, How and What would be my recovery? My preference is to come out of this investment and go for a Term Insurance of quite high cover say 2Cr min.
In my view, it is better to stop. You paid around 7 years of premium. There may be a loss or low return. But you can compensate the same if you take a wise decision of investing properly.
Even if you come out with loss and start investing in PPF (which gives you same tax benefit like this product), you can easily compensate the loss and earn more. Hence, go ahead.