I have Jeevan Mitra Triple Cover policy with SA of Rs. 6, 00,000 and half yearly premium of Rs. 16,440. Policy is for 21 years and till date I have paid 4 premiums. It is giving less return. I am interested in taking a term policy of Rs. 20 lakhs. Should I surrender this endowment policy or continue with it?
Do you have any reasons to continue with low returns and keep your money blocked in this policy? But remember that if you surrender it now, its surrender value will be nil. Calculate your gain/ loss in both the cases.