I had bought LIC ULIPs in 2007. Should I exit them now or stay invested?
-Tanveer
We would suggest you to carefully read your ULIP policy document. Find out how much insurance coverage you’ve received. Whenever you make an investment, you should have a clear focus about where are you putting your money and what you expect out of it. In case of insurance, you should be clear about whether the coverage you get will be sufficient or not. Hence, if you think the coverage you're getting from the ULIP is adequate, then you should continue with it. If that is not the case, then you should opt for a term policy, which is a less expensive way of getting adequate insurance. Since your ULIP has completed 5 years, you will be able to exit it without facing any major penalties.
This article was originally published on May 11, 2012.
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