alteration in LIC of India Jeevan Ananad Policy?

I am in Gulf, I have taken a policy of LIC Jeevan Ananad in Oct 2005
Policy Coverage INR 24,50,000/- for 25 years. semester premium is INR 61,522/-

(1) now due to volatile situaton in my income level i feel difficulty in paying the premiums.
(2) also dumping (2 x 61522) in a year; more than 1.2 lakh is almost all of my savings in a year.
will LIC allow alteration in the policy.
i would like to alter it as semester premium of not more than INR 20,000/-.
i am married & an Engineer and my NET income is arround INR 12 lakh per annum.

pls advice.

2 Replies to “alteration in LIC of India Jeevan Ananad Policy?”

  1. Alteration is not possible and you are planning to pay the installment on a quarterly basis then make tha payment in the bank as FD every semester and after 04 sem pay the total amount.I dont find any difference between paying tah amount after saving and change the payment option to quarterly…

  2. You earn Rs 12 lakh per annum, buy insurance with Rs 1.23 lakhs annual premium!!!!!

    Why cant you pay some fees to a Financial Adviser?

    Would have saved you a lot of loss.


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