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Shall I continue or withdraw LIC Policy??

Q & A Forum › Category: Life Insurance › Shall I continue or withdraw LIC Policy??
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rajithaxpradeep asked 4 years ago

Hi Basu,

I have a LIC money back policy for Rs.4,00,000 sum assured for which I am paying Rs.8500 quarterly. There is a money back of about Rs.85,000 every five years. I started this in October 2014. I now feel that this was not a very good decision and want to invest this elsewhere. My question:

  1. Do you think I should withdraw this policy?
  2. What are my potential losses?
  3. If yes, where else can I invest this amount?
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1 Answers
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basunivesh Staff answered 3 years ago

It is better to surrender. Contact nearest LIC branch or home branch for the surrender values. 

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