Tweets on 2012-02-26

Posted 1 CommentPosted in Finance

The hidden message being — We managed to fool you all these years under the guile of “Premium Allocation Charges.” No one in this industry knows why there has to be a special charge just to allocate your premium (premium = your hard-earned money). And no one in this industry even wants to know why […]

Tweets on 2011-12-21

Posted Leave a commentPosted in Finance

An excerpt from an interview published in a recent issue of Outlook Money: The biggest challenge for my company [Star Union Dai-ichi] is how to sell Ulips and give good returns to our intermediaries who are our corporate agents. At present, big banks that are giving us distribution business includes Bank of India and seven […]

What Does Your ULIP Premium Do?

Posted 2 CommentsPosted in Finance

Makes you poor and your agent/insurer rich. Look what I found in my email. A job (commission-based) that allows you to be your own boss. Life insurance consultant with LIC of India (part-time or flexi-time). The job involves prospecting, understanding life insurance needs, advising on suitable options and closing the sale. It’s a freelance marketing […]

Tweets on 2010-04-21

Posted 1 CommentPosted in Finance

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 […]

Tweets on 2009-06-15

Posted 1 CommentPosted in Finance

Mutual funds are a grossly mis-sold, mis-positioned, and mis-communicated financial product in India — Dipen Seth, Money Today, June 25, 2009. Add misunderstood to that list. Add Unit Linked Insurance Plans (ULIPs) to that list.

Tweets on 2008-09-25

Posted Leave a commentPosted in Finance

I’ve previously dissected Bharti AXA’s AspireLife Unit Linked Life Insurance Plan and found it to be a terrific example for bad financial jargon, lame financial products, and lame advertising — in short a toxic financial product (as most ULIPs are). A recent issue of MoneyToday carried an ad for Bharti AXA’s Life AspireLife Unit Linked […]