Advice required on ICICI Lifetime Super

[ananyamitra]

Hi all,

I am a newbie in insurance field. Just started my professional career. Hope to be guided and learn from all of you out here.

I own a ICICI Lifetime Super policy , details of which are as follows :

Commencement Year : 2006
Term : 10 Years
Premium : 1500 monthly
Portfolio : Maximiser Fund

Till February 2011, I have paid a total premium of Rs 76500. However the fund value as of now is only Rs 83634 . So thats a return of only around 9.5%.

Is it advisable to continue this policy? Shall I try to switch to any other portfolio?? Kindly suggest.

 

[drsambu123]

Hi all,

I am a newbie in insurance field. Just started my professional career. Hope to be guided and learn from all of you out here.

I own a ICICI Lifetime Super policy , details of which are as follows :

Commencement Year : 2006
Term : 10 Years
Premium : 1500 monthly
Portfolio : Maximiser Fund

Till February 2011, I have paid a total premium of Rs 76500. However the fund value as of now is only Rs 83634 . So thats a return of only around 9.5%.

Is it advisable to continue this policy? Shall I try to switch to any other portfolio?? Kindly suggest.

Is it a ULIP?.. (ULIPS are bad even after modification done recently by IRDA)
If so exit and and take term plan(purest and cheapest form of life insurance) with adequate coverage( 5-to 10 times of ur annual income) and invest the rest in pure equity diversified MFs.. Read various threads in this forum to select funds and method to invest