I have jeevan saral policy which i bought in 2008. I pay an annual premium of RS 30 K. If I stop paying premium now I will incurr some loss in the amount I paid so far….but i read some where that If I pay premium for 10 year I am eligible for the Bonus which LIC gives every year….And if I surrender post that I atleast I will get my principal back.
My premium are due in feb and this will be the 10th year….So please suggest should pay this and exit next year ….
Will really appreciate if you can revert on the same….
thanks for your immd reply …..
Few more question related to the same….if you please help…
- This 10 year thing is just for Jeevan saral policy or applicable for other policy as well like I also have some endowrnment policy
- LIC declare bonus every year ( this is mandatory )
- What i will get as a sum back on the surrender ( assuming bonus of 400/1000)….My annual premium is 30025 and policy term is 35 years and sum insured is 625000….date of inception of the policy is feb 2008
- If you can give the formula.