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:
- Do you think I should withdraw this policy?
- What are my potential losses?
- If yes, where else can I invest this amount?