There is no escape from incurring losses from a unit linked pension product, but it is better to curb your losses now
ICICI Pru Lifestage Pension Policy is a deferred unit linked pension product. The policy claims zero premium allocation charges.
However, it has kept its policy administration charge as high as approx 13.1% p.a. Apart from this, it deducts fund management charge which in your case is 1.35% p.a.
You have already borne major expenses. However, we recommend you to surrender the policy. This is because the initial loss due to expenses will generate relatively lower returns in future. If you surrender now, you will receive fund value as surrender value which will be added to your income and taxed as per your tax slab and you will have to pay back the tax exemptions you would have availed on the premiums paid until now.
There is no escape from incurring losses now. It is better to curb your losses here itself and invest wisely in future.
Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015
1.ICICI Prudential Tax Plan
2.Reliance Tax Saver (ELSS) Fund
3.HDFC TaxSaver
4.DSP BlackRock Tax Saver Fund
5.Religare Tax Plan
6.Franklin India TaxShield
7.Canara Robeco Equity Tax Saver
8.IDFC Tax Advantage (ELSS) Fund
9.Axis Tax Saver Fund
10.BNP Paribas Long Term Equity Fund
You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds
Invest in Tax Saver Mutual Funds Online -
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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