I had taken a HDFC youngstar Super Premium II plan for my son – yearly premium 50,000 (only one premium paid last year) i want to discontinue this owing to very reasons of moving away from ULIPS.
I has also takenICICI Pinnacle Super II for my wife (here also one premium has been paid for INR 50,000) i also want to discontinue this owing to obvious reasons of getting away from ULIPS.
Similarly i have a endowment plan T-14 of LIC annual premium of INR 13,438 – premium paid for 7 years but if i surrender it now, i get only INR 74,590 as per LIC.
I want to take out the money and invest in Mutual funds what is your advice ? Whereas in the case of HDFC & ICICI Pinnacle i will get money only after 5 years,,whereas for LIC it makes sense to withdraw and invest in mutual fund.