ULIP - Continue / Exit

[trksbc]

Hi,

I have a ULIP from MAX NewYork Life named "Life Maker Gold". I started investing in Jan 2008. I invest 5000 every 6 months. Now I have invested 45000 since the past 4.5 years. My current fund value is Rs. 34000. Despite making an investment of Rs. 45000 since past 4.5 years, my fund value is less than what I have invested. Should I continue or exit this ULIP?

Thanks a lot!

 

[zed]

Hi,

I have a ULIP from MAX NewYork Life named "Life Maker Gold". I started investing in Jan 2008. I invest 5000 every 6 months. Now I have invested 45000 since the past 4.5 years. My current fund value is Rs. 34000. Despite making an investment of Rs. 45000 since past 4.5 years, my fund value is less than what I have invested. Should I continue or exit this ULIP?

Thanks a lot!

ULIP offers good yield if you looking for period 15-20years but the expenses ratio would eat up most of ur returns.

 

[trksbc]

So its better to get out & invest in Mutual Funds, right?

 

[krishna324]

So its better to get out & invest in Mutual Funds, right?

most of us go to ULIP to get tax exemption...but there wont be any tax exemption from fy12 (Direct tax code)...you better exit it....or if you dont want immediate money then wait for some time at least you get what you invested..

 

[vikaskr02]

Hi..
This is my first post. I am investing in SBI Life Unit Plus ll regular from last four year and one year left in maturity. SBI using investment as 19 % in balanced fund having NAV 19 and rest 81 % in Equity fund having NAV 36 now. I am not that much financial literate. Can any buddy suggest is this investment is correct as per present market. iF NOT then what should be my investment. now my PREMIUM IS Rs.24000 pa. I am thinking to shift some fund in Growth fund having NAV 22.

 

[saivenkat]

Hi,

I have a ULIP from MAX NewYork Life named "Life Maker Gold". I started investing in Jan 2008. I invest 5000 every 6 months. Now I have invested 45000 since the past 4.5 years. My current fund value is Rs. 34000. Despite making an investment of Rs. 45000 since past 4.5 years, my fund value is less than what I have invested. Should I continue or exit this ULIP?

Thanks a lot!

Further, You must be very careful.. when the fund value drops below a certain value after taking in to account all the recurring expenses and the commission for agents etc.. Your POLICY WILL BE " FORECLOSED".. which means.. automatic closure will be done without your consent... While signing the contract.. you would have agreed for the same..

( Of course no one on earth, will read the TERMS AND CONDITIONS.. be it while taking a policy or registering in a website.. but will click/ sign .. I AGREE..)

So.. IMO.. Its time to exit from this ULIP and switch over to better savings mode.. Just my 2 bucks..)