I am investing Rs 8,000 in my daughter’s name and Rs 4,000 in my wife’s name in HDFC Life Insurance policies. I have invested for 5 years, but the net value is less than what I have invested. What do you think should I do?
Since you have been investing for 5 years, you would have already incurred most of the expenses that are there in such policies. You should now look at this investment as a bad decision and square up your losses. Make sure you have adequate term insurance before you invest any further. Mixing investments with insurance is a bad idea, so stay away from ULIPs.