I have BirlaSunLife Saral Jeevan ULIP plan purchased in June 2008 and as of now its Current Value is very low as compare to investment. What should I do in this, should I exit or to continue it. Details:Birla Sunlife Saral Jeevan Life Cvg - Term 20 Pay Reg Annual Premium - 22,542 /-Investment Value - till now - 90168/-Current Value - 78690/
At the moment markets are very low, so hold on for few months and check various options.
BirlaSunLife Saral Jeevan is a ULIP plan and as you must be knowing that there are lots of charges attached with ULIPs, which are deducted from the premium -
1- Premium Allocation Charge - NIL
2- Fund management Charge - 1.5% per annum
3- Policy Administration Charge - Rs.25 per month
4- Mortality Charge - very as per age of proposer (check here)
You have not mentioned which fund you have opted for investment?
4th year onward there is no surrender charge on this plan so after paying June'2012 premium, there will not be any surrender charges.