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Mutual Funds are better than ULIPs

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Mutual Funds Score over ULIPs

Surrendering your ULIP after 5 years won't subject you to heavy charges. Invest the money in appropriate mutual funds

ICICI Pru Life Time policy is a unit linked plan which charges heavily during initial years. The charges reduce subsequently. Total expenses from third year onwards for the plan are near to 6.5 percent p.a.

 

Balanced funds on the other hand at most charge 3.28 percent annually which is almost half of the charges under the unit linked policy. You have already invested with the policy for last 11 years which is a very long time frame. Over this period, top balanced mutual funds such as HDFC Prudence or Tata Balanced would have managed a 20 per cent CAGR return. Anyway, as far as your question of continuing with the policy is concerned, a good thing about the plan that there are no surrender charges if you surrender anytime after completion of three years. You still have 10 long years to reach your goal. Surrender this policy and invest into well rated balanced funds if you really want to control risk.

 

However, given your long horizon, even large or multicap equity funds may deliver good results.

 

In mutual funds, you can phase out your investment through monthly SIPs instead of investing one big lumpsum at one date in the year. Consider funds like HDFC Top 200, Quantum Long Term Equity and ICICI Pru Top 100 for your choices. You must however start switching from equity into debt as you near your goal. Just as an example, if you start from zero, and assuming your investment grows at 12% per annum, you would need to invest R3600 monthly to accumulate R8.20 lakh in 10 years.

 

Insurance is not to be confused with investment. We have always been advocating that investors keep insurance and investments separate. Continue with your term policy with Aviva because this is a pure protection product.

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Best Performing Mutual Funds

    1. Largecap Funds Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Franklin India Bluechip
      4. ICICI Prudential Top 100 Fund

B. Large and Midcap Funds Invest Online

      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
      4. Birla Sun Life Front Line Equity Fund
      5. Franklin India Prima

C. Mid and SmallCap Funds Invest Online

      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
      5. Birla Sun Life Dividend Yield Plus
      6. SBI Emerging Businesses Fund
      7. HDFC Mid-Cap Opportunities Fund
      8. ICICI Prudential Discovery Fund

D. Small and MicroCap Funds Invest Online

      1. DSP BlackRock MicroCap Fund
      2. Franklin India Smaller Companies

E. Sector Funds Invest Online

      1. Reliance Banking Fund
      2. Reliance Banking Fund
      3. ICICI Prudential Banking and Financial Services Fund

F. Tax Saver Mutual Funds Invest Online

1. ICICI Prudential Tax Plan

2. HDFC Taxsaver

      1. DSP BlackRock Tax Saver Fund
      2. Reliance Tax Saver (ELSS) Fund

G. Gold Mutual Funds Invest Online

      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund
      4. Birla Sun Life Gold

H. International funds Invest Online

1. Birla Sun Life International Equity Plan A

2. DSP BlackRock US Flexible Equity

3. FT India Feeder Franklin US Opportunities

4. ICICI Prudential US Bluechip Equity

5. Motilal Oswal MOSt Shares NASDAQ-100 ETF

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