I have taken the Birla Sun Flexi Save Plus (Endowment) Plan in 2002. The premium paying period is 40 years. I have paid premiums till date. Is this a good policy? Should I continue with this or surrender?
We advise you to surrender the policy now because endowment plans generally fail to give decent returns that can even beat inflation. This plan has an extremely long tenure. Their cost structure is also not transparent. You can instead invest your future premiums in a more rewarding investment like an equity mutual fund. Upon discontinuation of this plan, you will get a surrender value equal to thirty percent of the premiums paid (excluding first year premium).