Surrender your ULIP without paying heavy charges in the free-look period and invest in ELSS funds to save taxes
ULIPs is a mix up insurance and investments. You must still be in the free-look period for this plan during which you can surrender the plan without heavy charges. As you already have adequate term insurance, we would suggest you return this ULIP and invest the amount in tax saving mutual funds in a systematic manner to be able to earn higher returns. Some of the ELSS funds you can choose from are Axis Long Term Equity Fund, ICICI Prudential Tax Plan, SBI Magnum Taxgain Scheme and Reliance Tax Saver Fund.
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
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For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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