New York Max Life Insurance - Continue Or Stop

Unfortunately you have taken an ULIP plan for investment needs. ULIP plans are market linked and they may not provide you good returns in short term if markets are under performing.

ULIP plans had huge load charges in initial years so invested amount is smaller than what you paid as premium.

1. If your policy had three years of mandatory paying period, you should stop paying more premiums now.
2. If you are looking for returns from an insurance policy, you are wrong. Insurance is for protection and not for investment/growth. For investment there are n number of other products like Mutual funds, PPF, Fixed deposits etc. If you want to exit from ULIP, invest the amount into equity diversified mutual funds.
3. Please don't buy any other insurance policy for investment need. If you need insurance, just buy pure term insurance.