Hi, I am 34 yrs and have just started making investments. I have taken a ICICI prulife wealth stage II policy. I have paid Rs 50000 p.a and in the free look period. Could you suggest if I should continue with the policy or should make some other investment, if yes then which? Thanking in advance. Regards, Deoyani.

Asked By: Deoyani
On: 18th Jul 2012 1:46 PM
Answered Within: 1 Days

MIC Expert

Answer

You would have received a sample illustration at the time of product demo and now along with the policy document. Please go through the same carefully.

I have calculated one with your details (Age 34, Premium 50,000) and assumed a few things such as policy term = 10 years, etc. At the expected rate of return of 10%, you can expect a Rs,740,915 (read column no 13 titled "Fund at end" last row) after paying premiums regularly for 10 years. I will not mention the amount of risk cover you get because term plans offer good risk cover and not ULIPS.

So as an investment product, you should compare this returns with other instruments (equity based and secured products too). Also remember the 10% rate is just indicative. The actual returns may be lower or higher.

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Answered By: MIC Expert
On: 20th Jul 2012 1:24 PM

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