Good day all,
I have been invested in Bajaj Allianz ULIP – Equity Gain Fund since the year 2005. Yearly premium is 50000 and cover provided is x5 times. I plan to continue investing in this ULIP for a long term. The present apportionment is 100% into the scheme. I pay a single premium every year.
My query is whether I should change over from paying a single premium to a monthly premium mode thereby bringing it on the lines of a SIP. I.e. if I should start paying something on the lines of Rs. 5000 p.m. as contribution towards the premium. Could someone clarify if the apportionment charges levied would be greater in case of a monthly payment mode than a one time annual payment mode & if yes would they be significant enough? My intention towards switching to a monthly payment is to harness greater benefit due to systematic investment.
I would be grateful if someone could clarify this matter for me.
Wishing all a Merry Christmas & a Happy New Year.
Regards,
Aditya Pednekar