Advice and valuable suggestion needed regarding my ULIP Policy

POSTED BY merks_2002 ON March 18, 2015 3:49 pm COMMENTS (2)

Hello friends,
Hope everyone in doing well !!!
Need your advice and suggestion regarding my ULIP policy.

I had taken Reliance Pay five plan in 2012 for an annual premium of Rs 50000/-, I have been paying premium for 3 yrs till now a total of 1,50,000 /- . My current fund value in the ulip is Rs 2,10,000/- . As per the policy we need to pay only 5 premium and policy will mature after 15 yrs. I need you advice whether i have to pay the remaining 2 premium and continue with the ULIP or should i discontinue it and invest in mutual fund ?

I am already investing in MF through SIP and having a term insurance. I am confused as the ULIP returns seems to be good.. Pls advice me what my action should be as my premium paying date for ULIP is nearing..

Thank you


2 replies on this article “Advice and valuable suggestion needed regarding my ULIP Policy”

  1. Debojyoti Das says:

    Hi, Suggest to check with Insurer the current Surrender value and decide. The same is also provided in policy document and you can calculate the surrender value. As the locking period for ULIP is 5 yrs. now, you can decide whether it is apt to continue or you should come out and have the accumulated sum invest in MF.

    1. merks_2002 says:

      I checked with them and they are telling i can surrender the policy only after 5 yrs. So should i continue paying premium till 5 yrs or stop it ? Anyway i will not get any money now.. only thing is i can invest the remaining premium amount somewhere else..

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