Can convert my LIC policy to paid-up after 3 premiums

[samkapoor77]

Since last 3 years I am holding LIC insurance policy for 20 years with SA Rs. 2, 50,000 and I am paying an annual premium of Rs. 60,848. Somebody was telling me that after 3 premiums I can stop paying premium and can make the policy paid-up. Is it correct? If yes, then how much I will get at the maturity of the policy with paid-up option?

[Sameer Kapoor]

If you convert it to paid-up now then LIC will assign paid-up value as applicable on this day which will be made available to you after 20 years without adding anything to it.

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