Hi,
I have taken Future Secure Pension from bharati AXA in 2009 and completed 6 years. The current fund(GROW MONEY PENSION PLUS ) value is at Rs.18.50. Currently I am paying Rs.99999/- per annum as premium.
My advisor from Bharati is advising to me close this policy citing below reasons-
1. As per new IRDA norms, 10% tax will be levied on all policy withdrawals, but for now they reduced it for 2.5% certain period.
2. Advising me take other policy which give more returns.
My questions are —
1) Should I continue the policy till maturity date(15 years)?
2) Or, close the policy and invest 1 lac in MF’s for every year?
3) Closure proceedings from divert to close my loans(Gold Loan and Home Loan)?
Please advise.
Regards
Sarma US