Sir I have taken an Unit Linked endowment plan with HDFC on Jan 2008 and paid a premium of Rs.10000 for three years (2008,2009,2010).I haven't paid any amount and not transacted.The sum assured is one lakh and the policy maturity is given as 2018.the fund are namely balanced managed fund and growth fund and i wasn't aware of anything while investing but when recently checked the policy summary i found that there are mortality charges and policy administration charges and also my fund value is around R.28000. What is the best option in this stage? i went in for this policy only because f pestering of my friend who happened to be the advisor. I have got other policies and amply covered and also got health insurance too..so please advise what is the best option,leave it as it is or fund change if possible or close and withdraw and invest in other?
2 Answers
If as per policy terms, company can pay full fund value on surrender now, its better to surrender policy and take out your money.
It would be better to invest into equity diversified mutual funds for long term investment rather than this policy. One lakh of sum assured is anyway useless.
You have also been fooled by an insurance agent who focus on their huge commissions rather than investor's benefit.
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