Having ICICI Prudential Lifetime II Life Insurance Policy?

Question

I am investing 18000/- per year on Lifetime II policy of ICICI prudential for the last 3 yrs. I have put 80% into the maximiser and 20% into the balancer funds. Somehow recently i figured out that the maturity date of this policy is 2079 which is totally absurd (understanbly the agent cheated me). Could you please help me understand how i can get benefit out this policy , like when can i take advantage of the returns from the maximiser and balancer funds (when can i withdraw them), as i believe there is no point in paying Rs. 18000 per year for the rest of my life. Any suggestions or help is highly appreciated. (Kindly reply me back if my question does not appear to be clear). Thanks

Answer 1

as you are already invested, continue for 10-15 yrs minimum.

policy can not be more then 25 yrs old

Answer 2

You can withdraw anytime after 3-5 years. also they can not give this high term for any policy. Check with the company. it is not possible to have this much term.

As you have already taken, pay for atleast 10-15 years to minimise initial charges.