January 23, 2013 1:49 pm
Dear Chander, please purchase a term cover for your insurance needs & redeem your money from this policy & invest in PPF & MFs.
Dear Chander, if subject line is your basic query – my plain advice ‘ll be to surrender & invest your money for investment. For insurance needs please go for pure term cover.
Thanks Ashal for your advise.
For some strange reason, I was not able to post my entire query earlier.
So here is the detail:
I have been investing in ICICI Pru Life Stage Assure since 2009 paying annual premium of INR20,000.00. To be honest,I invested in this policy just for the sake of tax saving and I never even care to look at how my funds have performed over the time. My current fund value is now INR62,681.61. I have paid 4 premiums till now and the 5th one is due in the next month.My policy details are as follows:
Policy Name – Life Stage Assure
Policy Number – 11167174
Policy Terms – 10 years
Sum Assured – INR200,000.00
Protector Fund IV – ULIF 041 27/08/07 LProtect4 105
NAV(22-01-2013)- 16.1022, Units- 943.73500, Value- 15196.2097
Flexi Growth IV – ULIF 038 27/08/07 LFlexiGro4 105
NAV(22-01-2013)- 14.26, Units- 3329.97231, Value- 47485.405
After reading your several articles, I have now realised that I shouldn’t have invested my money just for the sake of tax saving and ought to monitor my fund performance on a regular basis.I really do not have any idea how is the progress of my funds keeping the current market situation in mind.
What should I do now? Should I surrender my policy?
I would really appreciate your advise on this.
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