Need further guidance for AVIVA YOUNG SCHOLAR SCHEME

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05-02-2017
rldkwak

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Need further guidance for AVIVA YOUNG SCHOLAR SCHEME

Dear All
I am continuing one policy from AVIVA, name is AVIVA YOUNG SCHOLAR SCHEME. my premium is annually Rs 30,000.

I have already paid premium for 5 years.
Problem is , I have already paid Rs 1,50,000 for 5 years, but fund vale currently showing is : total= Rs 1,14,481.00
There is around Rs 35,519 depreciation in the total paid amount.
Please find the screenshot below for policy details where you can find Fund breakups:

My question is : Are all Insurance companies currently having problem with fund value depreciation, or Haven't I switched in proper funds? Should I surrender this policy and withdraw the amount immediately and put in other company's insurance ?
Attachment 920
Regards
Rajib Das.
05-02-2017
Manish_Kumar

I think you are talking about - Aviva Young Scholar Secure

It is a traditional investment-cum-insurance plan so that will have an direct impact on the returns (expect yield of 5.26%).

If you want good return than go for Aviva - Young Scholar Enhancer Fund. It has given annualized 13.8% return in last 5 years.
06-02-2017
rldkwak

Dear Mr Manish

Got your reply. Please guide me- whether I should stay in AVIVA YOUNG SCHOLAR and switch all funds to Enhancer?
or I should surrender this policy and invest the amount in other Life insurance.

Regards
Rajib Das.
06-02-2017
Manish_Kumar

Quote:

Originally Posted by rldkwak

Dear Mr Manish

Got your reply. Please guide me- whether I should stay in AVIVA YOUNG SCHOLAR and switch all funds to Enhancer?
or I should surrender this policy and invest the amount in other Life insurance.

Regards
Rajib Das.

Do not surrender this plan, you will loose most of the premium paid. See Below:

Quote:

Surrender of a policy is allowed after completion of two policy years provided at least one policy year premiums have been paid. Surrender Value payable is higher of the Guaranteed Surrender Value and Special Surrender Value:

Guaranteed Surrender value = 30% of the sum of all premiums paid (excluding premiums for the first year and also excluding the rider premium, extra premiums and taxes, if any)

If your plan is for minimum 5+ years from now onward, I would go for Enhancer Fund based on the past performance.