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POSTED BY ON February 19, 2013 4:33 pm COMMENTS (8)
I have a Bajaj allianz max gain policy. I have paid premium for 3 years. Should i continue to pay or stop and make it paid up or surrender. I think if i dont pay after 3 years i will not get highest nav. to get highest nav i will have to invest for full 7 years. Is it correct?
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I am in investing in bajaj allianz max gain Rs. 30000 Per Annum since 2010. How much amount I will get if if discontinue it in 2016.
Hi Dheeraj
This is very specific query which you should follow up with the concerned authority only. We wont be able to comment on that
Manish
Dear Vishal, as you have completed 3Y in the policy, the surrender amount ‘ll be tax free as the policy is qualified as ULIP. The tax benefit claimed by you in past 3Y of this policy under section 80C, ‘ll be reverted back & the income ‘ll be added to your income in the FY of surrender. For applicable surrender charges, please read your policy documents.
Alternatively, You may opt to make this policy paid up. Then start investing the prem. amount else where.
Thanks
Ashal
okay, if i surrender what is the amount i will get. i mean will there be any deductions or i will get the current nav. and also what about the taxation part. will the proceeds i get will be tax free and what about the deductions i have claimed u/s 80c in past 3 years.
Dear Vishal, surrender ‘ll be my call. Once money is with you, please invest in lump sum in the instrument of your choice. be it MF or PPF or FDs……
To continue ‘ll not solve the problem for you as you ‘ll not be able to earn desirable return.
Thanks
Ashal
yes i had to invest at the last moment for tax saving and i was not financially aware that time. now if i dont pay any further premium what return/nav will i get. instead of paying premium for this i can start a sip or anything else. or would it be wise to continue it. and if i stop paying premium should i make it paid up or surrender.
Dear Vishal, Why did you invest in this plan at first place? Was it after understanding it properly or last minute Tax saving call or some near or dear one’s pressure/obligation……?
What was the reason?
thanks
Ashal
Yes, you will have to invest for the entire duration, to get the benefit of highest NAV.
If you surrender, what will you do with the money you will get + the future premiums?
If you make it paid up, what will you do with the future premiums?
So first understand what you want to do, clarify those things, and then think about the execution.