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I opted a policy from LIC during college days with my part time salary. However, the maturity amount turned out to be less than expected. Currently, I am considering opting for a new policy and want to switch to a different one. Is there any possibility to transfer or close my previous policy while retaining all benefits, or can I transfer the entire amount to the new policy I am considering?

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  • I edited the tags assuming you're talking about life insurance in India - please adjust the tags if this is not the case.
    – D Stanley
    Commented May 20 at 14:37
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    I'm also assuming India because this seems to be about Whole Life, and most of the rest of the world has concluded that that is a bad option.
    – keshlam
    Commented May 20 at 19:36

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Yes from a pesonal finance insurance and investment must not be combined. You can check for surrender clauses in life insurance policy and surrender the policy. You cannot transfer benefits to a new policy. Take help of a CA in India.

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