Life Insurance Queries

Can I withdraw my ULIP policies from ICICI Prudential Life Insurance and invest in better products to get safer returns

I have 4 ICICI Prudential Insurance policies taken in 2014 and 2015. Though the NAV was travelling upwards before 2014 now it is declining. I am a senior citizen cannot bear to see the trend going down. So please suggest where should these funds be shifted so that my principle amount will remain stable yet get returns better without any market risk?

Jun 13, 2016 by Farook Majeed, Chennai | Life Insurance

You have not provided us the details of policies taken. Therefore, it is difficult to answer your query in details. However, we would like to point out broadly the following... Read More

Is there any risk as HDFC Life and ICICI Prudential Life are private Insurance players

Currently , my age is 29 and i am looking for term plan but got confused between LIC HDFClife and ICICI pru LIC is best but premium is high ( can bare it but does it really value?) HDFC and ICICI prudential are private players so risk is the factor without much hastle on premium need your suggestion on this topic.

Apr 28, 2016 by Kaustubh, Mumbai | Life Insurance

HDFC Life and ICICI Prudential, both are private sector Insurance companies with excellent track record. All the existing companies in India are well regulated by IRDA and therefore you should not have any... Read More

Why does one need Term insurance. Is it important

What does one need Term insurance. Is it imp?

Apr 4, 2016 by Tanmay Rajendra Gupta, Kharghar | Life Insurance

Life insurance is one of the most financial critical needs of any individual. Human life is unpredictable and an untimely death of an earning member of the family can cause financial distress to the family... Read More

Pros and cons of continuing with Aviva Freedom Life Advantage - 5 yearly premiums paid

What are the pros and cons of continuing with Aviva Freedom Life Advantage - 5 yearly premiums paid so far?

Mar 31, 2016 by Baacha, Chennai | Life Insurance

You have not provided sufficient details, like you age, sum assured, premium, fund selection etc in your query. We will discuss some general features of this plan and you can decide your next course of action... Read More

Pl suggest if I should use fund switching in HDFC Life ULIP Click To Invest

I bought HDFC Life Ulip Click to Invest on 15 Feb, 2016. I invested 40% in Income Fund, 40% in Balance Fund and 20% in Opportunity Fund. Is it my right decision? I am new and do not know about market up-down. Plz. Suggest me, I will be used Fund Switching. I will be very thankful for your suggestion?

Mar 7, 2016 by Udham Singh, Mansa | Life Insurance

You should be clear about investing objectives. Unit linked insurance plans are hybrid life insurance cum investment products. A portion of your premium goes to secure life cover for your family and a... Read More

Should I close my Jeevan Anand Policy

I have LIC JEEVAN ANAND (T.NO 149 ), I started this policy in 2010, this is endowment policy, now I decided to exit from this policy, because I do not see this as an investment one, and I do not see this as tax saving policy, as their are good investment and tax saving options available in the market, can you suggest is it wise to exit from this now? If it is good to exit can you please suggest how to exit, and how much is the loss? I am planning to these premium amount in direct stock or some good ELSS. Is it fine, or a person must have at least one insurance plan with him, please kindly suggest?

Jan 12, 2016 by Ramesh, Bangalore | Life Insurance

Firstly, you should remember that, if you have dependents it is absolutely critical that you have sufficient life insurance to provide financial security to your family in the event of an untimely death. All other... Read More

Surrender of IPRU Wealth Builder II ULIP Policy

My age: 26. LIC policy holding: Jeevan Anand. Yearly Premium of 44K for 23 years guaranteed returns of 10 lacs on maturity and 10 lac after death or 100 years whichever is earlier. About the 2 IPRU Wealth Builder II ULIP policies: 1. ULIP: Yearly premium of 50K, Sum assured: 5lacs, Policy Maturity Date: 2034, Fund allocation for 50K premium. 2. ULIP: Yearly premium of 1.2lacs, Sum assured: 15lacs, Policy Maturity Date: 2040, Fund allocation for 1.2lacs premium. I have few queries: 1. What if I stop paying premium now? Will I get the money immediately? 2. For 50K premium that I have paid twice, I see now the value is 100852.81. Shall I stop its premium payment and invest that amount in PPF or ELSS. For 1.2lacs, since the value is down than what I have paid, shall I do the same as for 50K i.e. as soon as it crosses the value more than what I invested? 3. For both ULIP, I have mentioned the Sum assured with the maturity year. Will I get the sum assured only after the maturity year even if I stop paying the premium after 5 years? It will be more valuable if my these queries are solved as I will learn not to invest any more in ULIPs and advice the same to my acquaintances. I am ready to bear the losses if you advice me to stop totally as I don't want to make any more mistakes. Rather I will start ELSS?

Jan 12, 2016 by Avinash Malli, Navi Mumbai | Life Insurance

Unfortunately IPRU Wealth Builder II ULIP has a lock in period of 5 years. Therefore, if you stop paying premiums now, you will have to wait for 5 years since the policy inception to get your money. If you stop... Read More

Will the ULIP Plan yield decent return if I keep investing

I have purchased 2 IPRU Wealth Builder II 105L139V01 policies one of 50K in the year 2013 and other of 1.2lac in the year 2014 in a hurry to save tax for the respective financial years. Now I have been reading a lot about Equity and MF and now scared as most financial advisor's don't suggest ULIP plans. My query is whether should I continue investing or should I discontinue and surrender. Will the ULIP plan yield decent returns if I keep investing? My premium renewal date is near, Please help?

Jan 8, 2016 by Avinash, Navi Mumbai | Life Insurance

As a rule in the future, you should not buy life insurance policies simply for the purpose of saving taxes. The primary purpose of a life insurance policy is to provide financial security to your family in the... Read More

I Want to take a Term Life Insurance Policy for 25 Lakhs

This is Sunil Kumar, 30yrs from Chennai. I want to take an term policy for 25 lakhs jointly with my spouse (24 yrs). please suggest me which one is the best one to opt. as I am working in nuclear power sector, which company will provide the risk coverage for radiation effect also. I want to include my spouse also in term policy then the premium will change? Please give your favorable response at the earliest?

Dec 5, 2015 by Sunil Kumar, Chennai | Life Insurance

Let us first address your question on the joint life insurance policy. If your spouse is working and has an income, it makes more sense to take a joint life insurance policy. The premium will be higher than what you... Read More

Investment in Bajaj Allianz invest gain policy

My name is Sujit Pandit, D.O.B 07/06/1990 working as a Engineer in a reputed company in Jamshedpur, my monthly salary is 20k per month. I have opened a plan of Bajaj Allianz (invest economy), in this plan I am investing 18k per year. I have successfully completed 3 years. But now I am getting confused about this plan, whether this plan is suitable for me or not, this plan is for 20 years. Since locking period is 3 years, so I want suggestion from your side that whether this will be good for me or not. Approx what will be maturity amount I will be getting, and should I will continue with this plan or not?

Sep 9, 2015 by Sujit, Jamshedpur | Life Insurance

You have not mentioned your cover or sum assured and certain other details of your life insurance policy. Based on your age, annual premium and your plan, as mentioned in your query, our guess is that your... Read More