Please tell me how much surrender value will I receive from ICICI Lifestage Pension Plan. I have paid first three premiums and I am surrendering it after five years.
- Gora Ray
ICICI Lifestage pension plan is an Unit Linked Pension plan, which has insurance and investment elements in it. If you have paid three years' premium and going to surrender it after five years, you will get 96% of the fund value as surrender value after the deduction of all applicable charges. For detailed information about the value, you should contact your insurer.
Do not buy insurance products for investment purpose in future. Abandoning them midway will cost you. Always invest in equity mutual fund schemes to achieve your long-term financial goals. If you are looking for a life insurance cover, buy a pure term plan.
This article was originally published on March 08, 2016.
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