Stuck with ICICI Pru

[gauravakaasid]

hi guys...1 small question...can i opt out of a life insurance policy? its been less than a week, i dint know that this was actually a life policy, coz the agent at the bank gave examples of ULIP n stuff. so i thought of it as MFs n all n i opted fr it.i know it was very stupid of me, m a NoOb in these matters. But i wanna get outta it.

 

[hailgautam]

ask your broker agent.. actually he gets commission out of it. and these ULIPs give the max. therefore he would not actually let you do it if it is still in his hands.

also check if your check has been cashed? In that case the policy would be effective and you have to cancel it in which case you have to forgo some amount as there would be an entry/exit fee.

 

[gauravakaasid]

yea..cheque has been cashed roughly how much would be the entry/exit amount?

 

[thecupid143]

yea..cheque has been cashed roughly how much would be the entry/exit amount?

The exit charges are high...dont worry u will find decent reurns on long term investment say abt 5 yrs...u will se it as a loss for the first 2 yrs....

 

[gauravakaasid]

^^i dint want such a long lock in period but he said the returns will be atleast 35%. i cud have easily done that thru MFs myself, cudnt i??