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From a full-page advertisement in today’s edition of Bangalore Mirror:
Bharti AXA Life Insurance presents a unit-linked insurance plan that guarantees you return of your first year premium of up to 175% at maturity and invests up to 100% of all your subsequent premiums.
What kind of financial misguidance is that? Incredible. I am being guaranteed the return of my first year premium at maturity! Way to go Bharti AXA — you just set the benchmark for financial suckiness (a measure of how much a financial product sucks). And in case you didn’t notice, up to 175% actually means anywhere from 0% to 175%; no guarantees on what that final figure will actually be.
A classic “WTF mate?” product. And don’t forget: Unit-Linked Insurance Plans (ULIPs) are akin to playing Diwali with your hard earned cash.
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