LIC moneyback. Change of premium: possible?

1. 

   Anonymous
   

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   Hi I am holding an LIC moneyback policy, I would like tio reduce my premium,or move to another plan without losing the so far paid premium, Is it possible?

   Renjith

   Posted 2 years ago #
2. 

   shyamsunder
   

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   Joined: Aug '09
   Posts: 17

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   yes, it is possible.

   1. By downward revision of sum assured (S.A)
   i.e by asking ins. co. to decrease S. A. to a lower scale.

   2. By changing the premium payment mode under the policy.
   this will help you continue the policy and pay the premium in intervals and avoid the burden of making payment at one time.

   Posted 2 years ago #
3. 

   Anonymous
   

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   Can you explain
   By downward revision of sum assured (S.A).
   I have jeevan anand policy with monthly premium of 4503..I want to reduce this premium to 2000 by revising 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 #
4. 

   vikash
   

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   Joined: Jun '09
   Posts: 11

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   Downward revision of S.A. means reduction of Sum Assured.

   For example: (Assumption only)
   Age 37 year
   Term 10 Yrs
   Plan - Jeevan Anand
   S. A - 1,00,000/-
   Premium is Rs. 9000/-

   For S.A. 50,000/-
   Premium would be Rs. 4500/-

   It would be noticed from above example that the premium reduces with reduction in Sum Assured (S.A.) as premium is directly proportionate to S.A.

   Posted 1 year ago #
5. 

   Anonymous
   

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   If i reduce my sum assured amount whether the premium paid earlier will be adjusted against the future premiums to be paid.

   Posted 1 month ago #

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