Early Closure of Life Insurance Policy

[vesvin57]

I have an Old Freedom plan policy with ING Vysa to which I have been paying yearly premiums of INR 1,00,000/- without fail from 2005. I understand that I will have to pay for 10 years in order to complete the full committed premium. So for after paying for 7 years, i see only a 20% in my funds. Is this normal?? What will be the amount I loose if I surrender this policy now? Can someone help me with these details?

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[vesvin57]

Please read above as "So far after paying for 7 years, i see only a 20% rise in my funds"

Regret the error.

[tigershark]

I have tried to get more info about the ING Freedom Plan, but all the searches taking me to new Freedom Plan. If you have more details about the plan, please post here.
ING Freedom Plan has two options -
1- ING Prime Equity
2- ING Preserver
The ING Preserver performed better.

ULIP plans are not for return. So if the above plan is giving you 20% that too after deducting charges is really good.
For surrender charges please read the term and conditions of the policy documents.

[v.r.s.nathan]

If your prime purpose is return then please invest in Equity, Mutual Funds, real estate etc. Life Insurance Plans are designed to give you protection first the other parts are just build to attract new customers. Please check tax part also when you are surrendering the policy - http://www.policywala.com/content.ph...tax-provisions!