ULIP – ICICI Pru Lifestage Assure

POSTED BY swetz ON March 9, 2011 7:22 pm COMMENTS (6)

Hi Manish,

I have a ULIP , ICICI Lifestage Assure and i pay a premium of 30k every year and the tenure is for 10 years. i have very little knowledge on ULIPs and i have read recently that its a not a good investment option. Hence i need your advice and here is the  scenario:

I have already made 2 premium payments (1yst year and 2nd year: 1st years premium will not be invested in market n  i am assured 125% of premium + fund value at maturity, which is in 2019.)
I am told that i have to make minimum 3 premium payments before i discontinue paying premium. However i am told that i can remain invested for 10 years without making any payment.

What i would like to know is:
1.  is it wise to pay premium for all 10 years or is it better to discontinue after 3 premiums?

2.  The company also has an option of making monthly payments, and yearly. Would it be wise to choose monthly payments over yearly?

3. Are ULIPS tooo bad n should i go for premature closure, even if it means monetary loss for me?

4. I am planning to go for term insurance of 30 years, for about 30-40 lacs; which is the company to go for term insurance? Are there any hidden charges in term insurance like in the case of ULIPs?

6 replies on this article “ULIP – ICICI Pru Lifestage Assure”

  1. Raj says:

    I agree with Sarfraj. Shit is a very simple word we can use for this scheme and for this company. Is there a way we can file a case on their TV ad that claims that equity have given returns of around 5 times in last 10 years but ICICIPRUlife themselves are pathetic performers. Since 2009 I am investing in this scheme and I have chosen equity as option for my investment. I didn’t even got 50% returns.

    Never ever invest in this company.

    1. Fund might have given the returns, but investors returns are only after cutting the charges 🙂

  2. Sarfaraz says:

    I have the same condition as you. This is a shitty fund. After paying 7 Premiums for 7 years, I can see a growth of less than 3% in the fund value. I should have instead invested in Recurring deposit and paid off the tax.

  3. Hi,

    If you have any doubts regarding your ICICI Prudential policy, we would be happy to help you. Please post your query on https://www.iciciprulife.com/ipru/GrievanceRedressal.jsp and we will get in touch with you as soon as possible.

    – ICICI Prudential

    1. M Thaker says:

      ICICI Prudential is promoting substandard products when it’s not selling in the market. Returns are poor and not a wise strategy or fund options provided by them.

  4. 1. Its always better to do long term investments and keep your premium going .

    2. There is nothing wise or bad about anything ,. Its your choice and how much can you afford . If you can pay yearly , do yearly , If you can do per month , pay per month

    3. Nothing good or bad about it . Think abut “suitable” or “Unsuitable” . Its a good product by design , but not everyone can utilize its features . If you are not understanding stock markets and dont know how to use swtiching facilities , Its not the best investment for you in that case

    4. There is nothing hidden in any product . Its all cryptic . Term insurance by design is a simple product so nothing is cryptic there .

    Manish

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