POSTED BY September 14, 2013 9:42 am COMMENTS (2)ON
I have a ULIP policy in my wife’s name as she couldn’t get a term insurance (home maker). In the ICICI Pru Life I came across the automatic transfer plan, basically when we put in the yearly premium we can put in one of the debt funds (such as money market) and specify a monthly transfer to a equity fund (of course the debt and equity funds are limited to the ULIP plans).
I think this is better as it works like SIP, especially since my premium is yearly and the purchase of units is highly impacted based on whether market is on high or low on the day premium is allocated.
Is the ATP option seems a good idea? Please suggest.
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2 replies on this article “ICICI Pru Life Automatic Transfer Plan”
This is an existing policy for past 2 years and since most of the major allocation charges are already gone we didn’t want to exit it. So I’m trying to make the most of the policy and exploring the switch options and I came across the ATP.
Dear Vimal, why are you interested to purchase a life insurance policy for your home maker wife? Any specific reason?