Dear Mr. Ashok,
This is in reference to your query related to "surrendered my money back policy"
I would like to make 3 point in LIGHT regarding this.
1st- you and your familt enjoyed had enjoyed a risk cover of Rs 1, 00, 000 for 8 years
2nd: You got money back of Rs 25, 000 after 5 yrs which is extra from above calculation
3rd: Tax benifits on LIC Payments.
and most important you have breached the contract for not paying premium for the specific period.
Ashok Ji please do not take LIC policies as pure INVESTMENT, LIC is offering many things along with it
Hope this may help you to know LIC is not a cheat.
Tarun Kumar Bansal