ICICI Pru Life Stage Pension Advantage plan

aa_enigma_zz 1
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Hi Pankaj,

Can u plz help me on this one:

on 28/05/2011, i invested Rs. 50k on ICICI Pru Life Stage Pension Advantage plan. Premium payment term is 5 yrs. My ques are:

  1. Should i stay invested in this policy and pay my regular premiums upto 10th yr or should i pay premium upto the 3rd yr n get out of it by the end of 5th yr.

  2. OR should i get out of this policy and stop paying my premium amount.

  3. If i get out of this policy , than in that case m i eligible to get dedudction upto 50k.

Thanks & Regards

pension-plan ulip life-insurance
1 Answers

There is no point continuing with this policy after Direct tax code comes into play, as there won't be any tax exemption on this. You should surrender the policy at the end of 5th year.
Tax deduction will be available till FY 2011-12 on this policy, so you may pay premium this year and then surrender next year.

Pankaj Batra5212
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