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Which is better - surrendering the lic policy after 3 years or 5 years?
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#1
16-07-2007, 11:45
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 Which is better - surrendering the lic policy after 3 years or 5 years? Hi i am planning to surrender my policy. this is a money back policy. i heard that surrender value after 3 years is20% of the premium while after 5 years, the bonus also gets added up. could anyone please tell me which is a better option ?
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#2
16-07-2007, 12:16
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| After three years, any policy can be surrendered. Because it will get paid up value. Paid up value is calclucated as follows.(sum assured+bonus accrued) x no. yrs prem paid / total term of the policy x surrender value factor.it is not advisable to surrender a policy, at any cost continue to get the intended benefits of the policy .Good Luck !for more detailspnkmurthy@yahoo.com www.geocities.com
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