I have invested in LIC’s ULIP. Should I continue with it or not?
-Subhash
The rules and regulations pertaining to ULIPs have changed of late. If you had invested in it a few years back, you would have already borne the expenses. The expenses were higher in the old ULIPs. The way to approach investments in older ULIPs is that you should pay the premium for the first 3 years to avoid forfeiture. Don’t redeem your money for 5 years because the surrender charges are high between 3-5 years. Once your ULIP has crossed 5 years, review the policy document carefully to understand the redemption charges and costs that would be levied.
This article was originally published on February 20, 2012.
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