Lame Finance: Unit Linked Health Plans — Just Ensure That You Don’t Get Hospitalized In A Bear Market

by Vinaya HS on February 19, 2008

in Finance

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We have,

Unit Linked [Life] Insurance Plans that combine investment and life insurance and guarantee purchasing power adequate to purchase the moon albeit in the long-term.

We have,

Unit Linked Pension Plans that combine investment and pension and guarantee purchasing power adequate to purchase the moon albeit post-retirement, which will anyway happen in the long-term.

Now we also have,

Unit Linked Health Plans, which combine ULIPs and health insurance. The idea: In a bull market, the ULIPs grow in value, you don’t suffer any panic attacks, the insurance company laughs all the way to the bank, and you get nothing. In a bear market, the ULIPs tank, you suffer every kind of panic attack, the insurance company still laughs all the way to the bank, and you still get nothing because,

The claim would be settled based on the net asset value of the scheme [which has tanked!] on that day.

Buy one, if and only if you can predict with 100% accuracy that you will be hospitalized only during a bull market.

The Simple Dollar says it best:

Insurance as an investment is a great investment for the insurance company but a terrible one for you.




Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.

{ 5 comments… read them below or add one }

Anoop February 19, 2008 at 3:20 PM

I have a difficulty in understanding this, what exactly do u mean by a Bull & a bear market?.. Do you mean that Bull means rapidly growing and competetive? If yes then what is a bear market?. Please explain as my knowledge of these two are limited.

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Vinaya HS February 19, 2008 at 8:16 PM

Anoop, these links provide a good explanation.

Bull market: http://www.investopedia.com/terms/b/bullmarket.asp

Bear market: http://www.investopedia.com/terms/b/bearmarket.asp

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