Iam nri Thailand
Last year I take icici pru elite super life ulip plan
Before I don’t know that is ulip,
I saw some videos about ulip vs mutual after I realized
I have term insurance already and have mutual funds 20000 sip per month
5 funds , 2 multi cap,2 large cap 1 small cap
My age now 38
Sir i have only one goal
Early retirement before 55 my age
Please tell me iam on right track or not
Please give suggestion on ulip
Surrender or not
for 15 years horizon,
Ulip premium 2.5 lks per annum
After inflation I need 60000 rs for month to retire
Ulips come with a lock-in period of 5 years, which means you cannot take out your money in the first 5 years. But you can choose to discontinue your policy by not paying more premiums.
Upon discontinuance, the insurers levy a charge—a maximum of Rs 6,000 if discontinued in the first year, which gets reduced to Rs 2,000 if you discontinued in the fourth year, and nil thereafter. The purpose of discontinuance fund is to hold your money from the lapsed policy till the lock-in period is over, and also pay some interest ( 3 to 4%) on it.
May I know the names of your MF schemes?
Kindly go through below articles, can be useful to you;
- Retirement Planning in 3 Easy steps
- Mutual Funds Vs ULIPs – Which is better? | Post Budget (2018) LTCG Tax proposal on Equity Mutual Funds & Shares