Can we reduce the premium by revising the Sum assured?

1. 

   anandps1
   

   new member
   Joined: Sep '10
   Posts: 1

   Reputation:2

    

   I have LIC jeevan anand policy with monthly premium of 4503..I want to reduce this premium to 2000 by reducing the sum assured...how can I do it.As its burden to pay this amount every month at this point of time.
   please reply at anandpratap@gmail.com

   Posted 1 year ago #
2. 

   vikash
   

   member
   Joined: Jun '09
   Posts: 11

   Reputation:13

    

   Anand,

   U will have to write official to your policy issuing office and request them to reduce the sum Assured under the policy to such an extend that the monthly premium comes around RS. 2000/-. The isurer would require original policy bond for passing the endorsement to the effect, which keep ready.

   Note : once the premium is reduced the same will not be increased subsequently.

   Posted 1 year ago #
3. 

   ravic
   

   new member
   Joined: Apr '11
   Posts: 2

   Reputation:2

    

   In my opinion, sum assured can't be reduced. Still you can confirm the same from your LIC agent.

   Posted 1 year ago #

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