Hello Sir, I made an investment in Aditya Birla Sun Life Insurance's ABSLI Wealth Infinia Plan @ 10 lakhs premium amount per annum for 5 years redeemable after 10 years. I have paid premium for 2 years and now have to pay the premium for the 3rd year. Looking at the Fund Value after 2 years, I am a little apprehensive whether to continue paying more money or stop. Do you this is a good policy or should I stop here and invest the money in more lucrative funds?

Ans: if you find that the Aditya Birla Sun Life Insurance's ABSLI Wealth Infinia Plan is underperforming and the charges are high, it may be more beneficial to discontinue the plan and surrender it. Reinvesting the surrendered amount in mutual funds (MF) or other investment avenues could potentially offer better returns and flexibility.

Here are steps to consider:

Surrender the Policy:

Contact Aditya Birla Sun Life Insurance to initiate the surrender process of your ABSLI Wealth Infinia Plan. Be aware of any surrender charges that may apply.
Reinvestment in Mutual Funds (MF):

Research and identify suitable mutual funds based on your risk tolerance, investment horizon, and financial goals.
Diversify your investment across different mutual funds to spread the risk and maximize returns.
Consider both equity and debt mutual funds to balance growth potential and stability.
Set up systematic investment plans (SIPs) to invest regularly and benefit from rupee-cost averaging.
Consult a Financial Advisor:

Consult a financial advisor or investment expert to help you select the right mutual funds and create a diversified investment portfolio.
Consider your financial goals, risk tolerance, and investment horizon when making investment decisions.
Monitor and Review:

Regularly monitor and review your mutual fund investments to ensure they are performing as expected.
Adjust your investment strategy as needed based on changing market conditions, your financial goals, and risk tolerance.
Tax Consideration:

Be mindful of the tax implications of surrendering the insurance policy and investing in mutual funds. Consult a tax advisor to understand the tax implications and optimize your tax liability.
By discontinuing the ABSLI Wealth Infinia Plan and reinvesting in mutual funds or other investment avenues, you may have the opportunity to achieve better returns and more flexibility in managing your investments. However, it's crucial to research and select suitable mutual funds and consider professional advice to make informed investment decisions tailored to your financial situation and goals.