Delhi NCR
Question
Life Insurance
I have two term insurance policies (sum assured Rs 1 Crore and Rs 25 Lakhs) & two endowment policies (sum assured Rs 8 Lakhs). The premium for the endowment policies is higher than that of the term policies. Both Endowment policies have been serviced for 8 to 10 Years. Should I surrender them?
I have two term insurance policies (sum assured Rs 1 Crore and Rs 25 Lakhs) & two endowment policies (sum assured Rs 8 Lakhs). The premium for the endowment policies is higher than that of the term policies. Both Endowment policies have been serviced for 8 to 10 Years. Should I surrender them?
First you should check if you have sufficient life cover. As a thumb rule your risk cover should be atleast 10 times your annual gross earnings.
