Four Years back I have started investing Aviva Life Insurance with Rs. 5000 Per Month. I have taken Tax Benefits from it as well for past 4 Years. But the problem with ULIP is that you have to keep on Investing in it for a long time. Now after 4 years of Investments (My Policy Term is 20 Years), I dont want to invest anymore in it and want to take out my money.
Just want to ask if this is a wise action and if I take out my Money, will I atleast get the amount which I have invested?
Also the Tax Benefits that I have taken for past 4 years, do I need to give them back to IT Deptt.
I am not absolutely clear about this. So any wise person can recommend me something will be really Helpful.
Regards.
CAclubindia
