I had opted for ICICI Life stage pension ULIP three years back. It was a spur of the moment decision as the bank guy said I’d be getting back 14/unit assured NAV for the initial 10/unit NAV.
I paid three premiums, 50,000 annually, a total of 1,50,000. Presently the fund value is 1,59,000. I’m disgusted and want out of this.I checked with the bank and was told surrendering tomorrow would get me almost 1,47,000 (92 % of fund value after three years) excluding the surrender charges.
What is my best option? Should I use their Cover continuance option which means the policy will remain in force without any premiums and charges would be deducted out of the fund value.But wouldn’t that be foolish cosnidering the fund made only a 9,000 benefit in three years?
If I keep paying the premiums till maturity (:annoyed: 2034) would there be any assured returns? Is that advisable?
Is there any better option or should I just go and surrender the policy tomorrow taking about 1,30,000 (92%-surrender charges) for the 1,50,000 I invested? 🙁
Please help guys, thanks