I started with ICICI Life Stage pension plan in 2009 paying by premium of Rs 30, 000. First of all, the agent from whom I took this policy said that I need to invest only 10yrs and then I can opt for pension. It was very late when I realized that the policy document stated that I need to invest 30K annually until 2038. Maybe it was my mistake that I didn’t verify this before signing the policy agreement.
But what is more shocking is that till date the policy value has reached only Rs.1, 70, 000 and I can only image what the fund value will be until 2038. It was one of my worst financial decisions I would say. I am planning to come out of this scheme at the earliest.
regards,
Avinash