POSTED BY canitha1 ON December 13, 2011 5:20 pm COMMENTS (2)

I have taken the ULIP from amsure(Associated with Max New York Life Insurance) and have paid the premuim for 2 yrs(locking period is for 3 years).Due to some personal reasons i couldnt pay my 3rd year preimum and also i came to know that my fund value is not even 1/4th of the premium which i paid for the 2 years.
The policy term is for 15 years and the preimum is 50k (for 2 policies).Since i didnt pay my 3rd year preimum the policy is in inactive state.

In this situation can i continue paying the premium(3rd yr preimum is 50k each for 2 policies) and for 15years will it be beneficial?
Or if i want to close the policy without paying the 3rd preimum will i be able to get some amount from which i paid for the 2 years.

Jan 2012 is my due date to pay my 3rd premium.

Kindly suggest whether i can goahead and pay the premium or quit……

2 replies on this article “SUGGESTION NEEDED ON ULIP IN AMSURE”

  1. Dear canitha1, yes you can pay your 3rd prem. now. It’s advisable that you pay your 3rd prem. so that in case of surrender in future, you are able to recover a part of your total paid prem.



    1. MNYL says:

      Dear Customer,

      We have noted your concern. We wish to state the fact that Unit Linked Policies, by their very nature are long-term investments, which implies that the horizon and time frame with which such investments are done is a long-term one. Hence if one look’s at the yields in the initial years of any unit linked policy, it may not look impressive and attractive.

      Further we request you to please email us your contact details at On receipt of the same, our customer representative will contact you for further assistance.

      Max New York LIfe Insurance

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