I bought ICICI Pru Elite Life II-RP Plan a year ago, assuming it is a mutual fund scheme. Can this be converted to my existing mutual fund scheme (ICICI Pru Value Discovery) or can I get a refund?
ICICI Pru Elite Life is a unit linked insurance policy. Unfortunately, there is no such option of converting your ULIP to a mutual fund scheme. Though you will incur a loss, it is still wise to surrender your policy. You can do so now and take the fund value after the lock-in period of 5 years.