Plan to surrender your ULIP? Don’t!

Plan to surrender your ULIP? Don’t!

A rightly chosen ULIP can be a competitive investment, but the investor needs to ensure that his relationship manager has put him ahead of the commissions that the product pays, says Anil Rego, CEO, Right Horizons. Ganesh Shankar, 68, was coaxed into buying a unit-linked insurance plan (ULIP) by his relationship manager. The 10-year plan has an annual premium of Rs 1 lakh. When Shankar received the policy statement in the third year, he realised that the value of the Rs 2 lakh premium he had already paid was down…

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Don’t surrender your insurance policy at a loss

Don’t surrender your insurance policy at a loss

If your Ulip was bought before 2010, it would make sense to continue Ganesh Shankar, 68, was coaxed into buying a unit-linked insurance plan (Ulip) by his relationship manager. The 10-year plan has an annual premium of Rs 1 lakh. When Shankar received the policy statement in the third year, he realized that the value of the Rs 2 lakh premium he had already paid was down to Rs 92,000. The policy had a sum assured of a mere Rs 1 lakh. Now he wants to stop paying further premiums…

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