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POSTED BY ON October 5, 2012 9:44 am COMMENTS (3)
Hi Manish,
My wife has taken a life insurance unit linked plan called “LifeStage Wealth II” from ICICI Prudential Life Insurance on 7th Jan 2012. The total premium per year is Rs. 60000 and the life cover is for Rs. 1500000. The term is for 30 yrs and premium paying term is 5 yrs.
After reading few articles from Jago Investor and after consulting my friend Phani Kumar Vedanabhatla (who is a avid reader of Jago Investor), I am wondering whether I should continue this policy as the life cover is very less for the amount of premium which we are paying. Kindly advice.
Thanks & Regards,
Gautham
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Hi Manish,
Do let me know if you need more details.
Thanks & Regards,
Gautham
Hi Manish,
Please find the details as requested:
Charges in the first year:
1. Premium Allocation Charges: 1200
2. Other Charges:
Policy Administration Charge: 1275.97 (DynamicPEF)
Education Cess: 8.93 (DynamicPEF)
Service Tax: 297.88 (DynamicPEF)
Mortality Charges: 822.93 (DynamicPEF)
Policy Administration Charge: 1262.03 (Opport F)
Education Cess: 8.91 (Opport F)
Service Tax: 295.31 (Opport F)
Mortality Charges: 813.94 (Opport F)
Worth at the moment:
Fund value as of today (5 Oct 2012): 64,872.718 (Fund Value)
Out of every Rs 100 invested by me Rs 90 approx was invested back
Thanks & Regards,
Gautham
What is the charges in the first year ? Out of the total what you have paid till now, what is the worth at the moment ? How much out of every Rs 100 invested by you was really invested back in it ?
After Sept 2010 , ULIP;s had some changes, not sure about this plan in detail , but give these numbers .
Manish