Since I often ask you guys to run away from a lot of financial products/services/agents/institutions, I thought I’d make a quick list of items that I have so far asked you to run away from.
- Unit Linked Insurance — of any kind — Policies (ULIPs).
- Financial products/services/agents/institutions which/who offer you â€œexclusive,â€ â€œprivilege,â€ â€œpriority,â€ â€œpremium,â€ â€œpremier,â€ or â€œanother-similar-word,â€ access to some [usually useless] service.
- Insurance agents who offer “commission kickbacks.”
- Financial products/services/agents/institutions which/who offer to help you mimic Warren Buffett’s style of investing.
It really is in your best interests to run away when you’re face-to-face with any of these.
Most financial advisors say that ULIPs are a good long-term investment options and just not suitable for short term gains but you seem to hate them altogether.
Why should insurance be a “risky” investment? Why would you ever want your insurance to be linked to the equity markets? Why would you want to pay “extraordinarily high” commission and fund management charges when there’s no guarantee on how your ULIP will perform?
Remember, insurance as an investment is a great investment for the insurance company/financial advisor but a terrible one for you.
Insurance is not an investment. ppl should get out of this confusion / illusion . Insurance is a service you r buying by paying a service fee. thats all.