I’m planning to go for a ULIP plan from canara HSBC oriental bank of commerce Life Insurance. The agent says it as an open ended (closes only if you take out all the money), for 10 years(premium payment term) @1.2lacs p.a. premium and a life coverage of 27.6lacs. Premium allocation charges @10080(first year), 7680 (next 2 years), 6480 (rest 7 years), and service tax @ 12.36%. Since I’m looking for a long term wealth creation, will this be suitable for me. I can handle the premium amount with my surplus of every month.
So, I’m looking at the best insurance + life coverage plan I can get into. Also, is this plan better compared to some of the other ULIPs available in the market. if not please suggest me a better one that can be suitable to me.
Regards
Ravikiran