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Lic jeevan anand plan 149 surrender
Share Dear Sir I bought jeevan anand plan 149 in 2013. It's 24 years to be paid. This year I didn't paid and I want to surrender the policy. Can I do this... And how much amount I wl get back now. I paid till now 9 years. Kindly help.
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Dear Srinivas
Is is a good plan and I shall recommend you to continue paying , reasons are given below :
1. As your payment term is long , your bonus rate will be approx rs 35 per 1000 . So if your um assured is Rs 10 lakh, you shall get rs 35000 per year for next 24 year .
2. You will get approx double the amount paid by you after 24 year .
3. You are also guaranteed to recive the death cover after receiving maturity .
Jeevan Anand is a good plan , pay rs 10 lalh in 24 year and receive rs 20 lakh plus Rs 10 lakh .
If you surrender then you have losses as below
1. You loose the cover , now the premium will be higher .
2. You shall receive approx 60 % of premium paid . Thos include surrender value of bonuses .
3. You loose your insurability .
So use wisdom and reinstate your policy .
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Yes you can surrender your policy, to know the exact surrender value , you will have to visit your branch and submit the surrender form along with original policy bond.