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.
One thought on “Tweets on 2010-04-21”
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