Why you should not cancel your existing policy?
Many Agents may recommend you to cancel your existing policy and take new policy.
LIC policy is considered to be the safest investment India. Experienced and performing Advisors can help you to get insured under LIC Policy. Your Agent is the key person for your LIC Insurance policy servicing. Never cancel your old insurance policy to take a new life cover. The bonus accrued would not be paid if you cancel the policy before maturity.
Pay LIC Premium regularly and never allow the policy to lapse. Life Insurance Corporation of India regularly runs Special Revival Campaign for lapsed policies. This campaign some time gives concessions on late fee and health requirements also. Never waste this chance. If your LIC Policy is lapsed, immediately revive and save your accrued bonus.