POSTED BY April 20, 2013 2:42 pm COMMENTS (2)
ONI am a retired school teacher and under the influence of the relationship manager of HSCB bank, I invested into their Dept Plus Fund for a sum of Rs 350000 at an yearly premium of Rs 50000 for premium period of 5 years covering 10 years life period. I already paid 2 years permium and the present value is Rs 87600. Should I continue with this ULIP ?
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Dear Subhash, please lodge a written complaint for this influence thing of RM to your bank. Regarding what to do with your ULIP. Please park a higher amount into Eq. to overcome the impact of charges. Please pay 3rd prem. if you want to continue & stop after that. In case you do not want to continue, please check for exit clause in your policy bond.
Thanks
Ashal
If you are financially secure for the next 10 or even 15 years or more and do not need the ULIP premium amt or maturity amt in any way then you could probably continue. Check the asset allocation in the ULIP and ensure the equity component is not more than about 25-30% or so.