Sell LIC policy and 'get money in 48 hours with life cover till maturity': Looks attractive? But beware of legal aspects, other rules
Published by Economic Times
Abhishek Kumar's role: Quoted
Abhishek Kumar, founder of SahajMoney, said a surrender value paid within 48 hours looks attractive but urged policyholders to check for any clawback if LIC rejects the assignment, and said investors buying the trust's certificates should bear LIC's stance in mind.
More of Abhishek's views on insurance
ET Wealth looks at a programme launched in 2024 under which LIC endowment policyholders could assign their policy to a private trust, getting the surrender value within 48 hours (as the company claims) while life cover continues to maturity. It explains how the trust funds payouts, LIC's June 2024 statement that it may decline such assignments under Section 38 of the Insurance Act, and legal views. It includes comments from Abhishek Kumar.
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Sell LIC policy and 'get money in 48 hours with life cover till maturity': Looks attractive? But beware of legal aspects, other rules
