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Discontinuing Insurance policies & partially repaying (Principal amount)

This query is : Resolved

thirumalaidasan.k (Querist)
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22 February 2024 Dear experts,

I currently hold two ICICI insurance policies, Life Time Classic and Future Perfect & I have been paying premiums of Rs 5000 & Rs 2556 respectively since November 2019. However, I am now considering the possibility of discontinuing these policies and redirecting the funds towards partially repaying (Principal amount) my housing loan.

Your expertise and perspective would be invaluable in helping me make an informed decision about my financial planning.

Thank you in advance for your assistance.

Best regards,

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 February 2024 If you don't have any other insurance policy continue with the policies.
You should have some insurance policy to take care of your family.

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