ICICI Pru Life Stage Pension Advantage plan - Should I stay invested or get out?

[anurag]

I had invested Rs.1 lac on ICICI Pru Life Stage Pension Advantage plan. Premium payment term is 30 yrs and can I withdraw after 5 yrs.

My queries are -
1- Should I stay invested in the policy and pay my regular premiums upto 5th yrs or should I pay premium upto the 3rd year and get out of it by the end of 5th year?
2- OR should I get out of this policy and stop paying my premium amount?

[PolicyWala]

You have bought a pension ULIP plan. All ulip plans are made for long term so you won't get much in short term.
As per ICICI Pru website (http://www.iciciprulife.com/public/Brochures/LifeStage_Pension_Advantage_Brochure.pdf)
Surrender values are available to you after deducting surrender charges.
1- The Surrender Value where three full years' premiums have not been paid will be 30% of the Fund Value.
2- If you surrender after payment of three full years' premium and three policy years have elapsed:
a- 3 years - 90%
b- 4 years - 95%
c- 5 Years - 100%

[Madhura]

I had invested Rs.1 lac on ICICI Pru Life Stage Pension Advantage plan. Premium payment term is 30 yrs and can I withdraw after 5 yrs.

My queries are -
1- Should I stay invested in the policy and pay my regular premiums upto 5th yrs or should I pay premium upto the 3rd year and get out of it by the end of 5th year?
2- OR should I get out of this policy and stop paying my premium amount?
I would suggest you to pay for 2 more years and then review your policy performance. All insurance plans are for long term.

[>take]

If you still have time to cancel the policy so you can go forward to it but one thing is sure there would be documentation charges that will be deducted from your premium amount that you have paid & remaining amount will be paid to you. You can invest in equities through mutual funds route & secondly you can open your PPF account as well. These are better then pension plans.