Tweets on 2010-04-21

by Vinaya HS on April 21, 2010

in Finance

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Here’s a timely article featured in The Economic Times on why you shouldn’t invest in a ULIP.

Between us, D & I have a ULIP that commands a ridiculously hefty premium, provides a really laughable amount as insurance coverage, and has actually tanked in value. Ouch! Thankfully, it’s about to complete three years of tenure and we can look forward to burying it.

ULIPs = Weapons of Mass Financial Destruction. Stay away from them.




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.

{ 1 comment… read it below or add one }

Vinay May 1, 2010 at 12:53 AM

Dear Vinaya- Agreed that ULIP are a bad investment tool. I have found UTI ULIP which describes the following and compared none in the market can compete them. Appreciate if you throw some light if UTI ULIP is a good/bad investment:
a. One time moratility charges Rs.2,300/- deducted in the 1st SIP based on age
b. No other charges/deduction
c. Sum Assured and market value payable in the event of death
d.Asset Allocation fixed @40%Equity and 60%debt
e.No Pension Payable (U get lumsum Amount)
f. Bonus payable at the end of the tenure
g. Term can choosen either 10yrs or 15 yrs
h. Insurance Cover maximum 15 Lakhs only

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