SBI LIFE - SMART PLATINA ASSURE SERIES 5 - A Request for help

[soum_bhowmik]

Hi Team,

On 03-Jan, I have purchased SBI LIFE - SMART PLATINA ASSURE SERIES 5 policy with Anuual premium 5 lacs INR. 1st Premium already paid. I need to pay upto 7 years and policy will mature after 15 years i.e. 2039. SBI told me during policy purchase , complete money will be tax free. During that time, I have not done much research. Now I am thinking , it is not worth much and paying such big premium amount.

Anyone please guide me on proper direction, what should I do ? Can I continue or surrender after 2 years of premium paid. Looking your help and guidence here.

***********.sbilife.co.in/en/individual-life-insurance/traditional/smart-platina-assure

Thanks, Soum.

 

[arjungoyal12]

But what are the surrender terms? They have told you about it

 

[Hema Kulkarni]

Hi Team,

On 03-Jan, I have purchased SBI LIFE - SMART PLATINA ASSURE SERIES 5 policy with Anuual premium 5 lacs INR. 1st Premium already paid. I need to pay upto 7 years and policy will mature after 15 years i.e. 2039. SBI told me during policy purchase , complete money will be tax free. During that time, I have not done much research. Now I am thinking , it is not worth much and paying such big premium amount.

Anyone please guide me on proper direction, what should I do ? Can I continue or surrender after 2 years of premium paid. Looking your help and guidence here.

******************.sbilife.co.in/en/individual-life-insurance/traditional/smart-platina-assure

Thanks, Soum.

This is a Endowment Policy and since you've paid 2 years of premium you are eligible for a Surrender Value. In 2 years, the surrender value is typically 35-40% of the total premium paid. Please note that you may have to pay a small discontinuation fee for surrendering your policy. Additionally you'll have to give a clear reason to the insurer for surrendering this policy (could be financial hardship, better alternate to invest in, etc).

 

[zacobite]

Hi Team,

On 03-Jan, I have purchased SBI LIFE - SMART PLATINA ASSURE SERIES 5 policy with Anuual premium 5 lacs INR. 1st Premium already paid. I need to pay upto 7 years and policy will mature after 15 years i.e. 2039. SBI told me during policy purchase , complete money will be tax free. During that time, I have not done much research. Now I am thinking , it is not worth much and paying such big premium amount.

Anyone please guide me on proper direction, what should I do ? Can I continue or surrender after 2 years of premium paid. Looking your help and guidence here.

******************.sbilife.co.in/en/individual-life-insurance/traditional/smart-platina-assure

Thanks, Soum.

you will lose lots of money.. on surrender.. continue if u can.. assume it is an FD with free insurance

 

[Kiran Chouhan]

आ प 35 लाख जमा करेंगे और आपको 65 लाख तक ही मिलेंगे जो पॉलिसी आपने करवाई है। दोगुना भी नहीं हुआ. आपके एजेंट से गलत पॉलिसी दे दी। जिसका कमीशन ज्यादा और ग्राहक को कम होता है।
और हम ऐसी पॉलिसी बताएं जिसमें हमें भले कम कमीशन मिले, लेकिन पॉलिसी धारक को अच्छा लाभ होता है।
मेरे पास इसकी अच्छी पॉलिसी है जिसमें आप सिर्फ 7 लाख तक जमा करते हैं हर साल 1 लाख फिरर 15 साल बाद आपको 25 लाख तक मिलेगा। वो भी टैक्स फ्री