After reading the discussion board on rediffmail.com on(Buying Ulips?
Beware of this trick), it seems I have also been cheated by my HDFC
insurance agent. As I have taken HDFC Young Star Plus Fund(ULIP). And
as they say for the first 3 years only I need to pay the amount & for
the rest 20 years they will take care of the same. as I have taken
for 25 years & I have taken this policy purely as my retirement plan
(my current age is 29 years) the amount I have paid as premium is 2
lacs annually. I get a cover 5times that is 10 lacs is cover if I die.
As all the ULIPs charges a heavy cost which they term it as
administrative cost I have been charges 40% in the first year i.e 2lac
40% 80K I have paid as admin cost. So my unit values are only 1.2lacs
in the next yr the admin cost will come down to 1%. My question is
should I continue for next three years ot four years as somebody
written on the discussion board that after 5-6 years one will start
reaping profits. Can somebody please guide me in this as my hard
earned money has gone into it. P**lease feel free to write me on
sameer.thakor@gmail.com*