|
Sir, I am a layman as far as financial matters are concerned.I was advised to take a U LIP(term 15 years) as a back up for a personal loan from HDFC bank in Oct,2005.First premium(Rs 25000) was paid in Sept,2005 and subsequently I paid annual premium of Rs 25000 each in sept-2006,Sept-2007 and Sept-2008.Fund allocation in the plan is balanced managed fund-30% and Growth fund-70%.My present fund value is Rs-126913.00.I would like to know whether it would be better to surrender my policy.If I surrender how much amount I will get.what is the best investment option with the amount?I may have some money requirement after one year,in that any short term investment option. Waiting for your advice Thank you bks asked Mar 21 '11 at 14:44 by bks 1●1●1●1 |
|
As five years have finished, you can surrender the policy now without any tax complications. You are not investing further but mortality charges will keep on deducting every year on this policy towards life-insurance. You may consider exiting this policy and invest into a Fixed maturity plan of mutual fund for a year. answered Mar 21 '11 at 23:55 by Pankaj Batra 5.2k●3●20 |