I have an LIC policy since 2019. Premium 72k annum till 2034. Insurance cover 16L and maturity 43L in 2044. That’s a 5% return.

If I surrender it. I only get 2.8 lakh back. Having paid 4.3L already. Should I continue to pay premium for next 10 years? Or surrender it and invest in a better asset.

1.5L loss now but Long term gain. Any advise? I have bought term insurance recently so pretty much covered on that.

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everything is not meant for gains, let it be, this is your safe money, you can use this money for your child’s education.
Also, Your money CAN grow at a higher rate, but it WILL certainly grow at this rate.

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LIC is a scam to be honest, i am kind of in a same situation, i pay around 78k premium but mine is a cashback policy, i will say keep on paying the premium although the return is less but its a good way to kind of save money as you can not take out that money, surrendering the policy is not the way.

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Everyone has safe asset vs. Risk asset. Evaluate your risk apetite and see if you are okay with the gamble. If u have a kid then keep it for their education funds.

MF and all doesn't guarantee higher returns. There is always some risk associated with them. But parallely you can start investing in MF.

.

Do you already know the “better asset”

No. Maybe a mutual fund.

Ask chatgpt

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