Should I surrender LIC policies for a term plan

[samkapoor77]

I have 5 Jeevan Saral policies purchased in 2007, 2008, 2009, 2010 and 2011. Sum assured for these policies are Rs. 2 lakhs, 3 lakhs, 1.5 lakhs, 3 lakhs and 4 lakhs. At present I am 34 years old. I am planning to purchase a term insurance policy for Rs. 75 lakhs from Aegon Religare. In your opinion, should I surrender these Jeevan Saral policies and take a term plan against it.

[samkapoor77]

In my opinion, you should better take a term insurance policy on asap basis. As regards Jeevan Saral policies, surrender all the five policies that you are holding.

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