September 28, 2010 3:26 pm
I am Saundarya Singh.
1.My ULIP 3 yr lock in period is over what should i do now
2. Should I take top up facility? If yes then its advantage.
Check out the premium allocation charges, policy admin charges of your policy in coming years. Many ULIP’s charges more in the initial 3 years and some till 6-10 years.
If there is less charges, continue with your policy. Otherwise, check out the surrender charges & divert your premium amount to equity diversified mutual funds.
Even if you’re not planning to pay your premium further, I suggest you to not to surrender your policy now. Let the funds grow there and take fresh decision after 5 years of your policy.
Hope it will help you.
If you have paid the premium for more than 3 years & if there are no surrender charges: Whether you should withdraw or hold that investment is based on Alternative Opportunity you have at that point in time. If you find that you will be better off investing in Mutual Fund directly instead of remaining Invested in ULIP, then its better to withdraw the same and make Mutual fund investment. Now this statement applies to all your investment.
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