Hi, I have a 25 Lac term insurance from LIC with an annual premium of 8,000 (approx). I also have a endowment plan from LIC with commencement date - 14/11/2008 with an annual premium of 48,040. It has a sum assured of 10 Lacs. The premium is due in Oct 2011.
I plan to stop the endowment plan & buy a term insurance.
I had two questions related with the above-
1. How much money can I expect from the endowment plan as a refund 7 what will be the tax liability? 2. Can you plz suggest the best policy for 50 Lacs which has an extensive cover & good claim settle ratio.
