Aviva Freedom Life Advantage Plan - is the right choice for me?

[Jignesh]

I am 32 year old executive. I have recently purchased Aviva Freedom Life Advantage Plan for Rs.25,000/- annual premium for 20 years. I am still in doubt if this is the right choice for ULIP. Please help me and guide me about ULIPs.

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[v.r.s.nathan]

Is 'free look in' period still there for your ULIP policy?
If not than you cannot do anything. You have to discuss this before taking above policy.

[CONFUSED]

If the free look in period is over than also you have option to increase / decrease Life Cover (Sum Assured), so use it if don't like.
Check here - http://www.avivaindia.com/en/Individ...Advantage.aspx

[Expert]

I am 32 year old executive. I have recently purchased Aviva Freedom Life Advantage Plan for Rs.25,000/- annual premium for 20 years. I am still in doubt if this is the right choice for ULIP. Please help me and guide me about ULIPs.

First insurance you always buy is term insurance . Be very careful of ULIPs and other schemes and understand the return to risk cover before purchasing . The insurance saleman will always try to sell a non- term insurance , but its always better to buy term insurance and Mutual fund rather than just a non term money back insurance scheme.